A business pain point is not a mild headache, which you can get through the day with. It is an excruciating one, which needs to be dealt with immediately. Business pain points have a detrimental impact on your bottom line, and they need to be solved for your business to move forward.
- Severe lack of leads
- Running out of money
- Serious employee dissatisfaction
These are business pain points. What isn’t a business pain point? Small issues like minor work-life balance problems and needing to slightly decrease a product’s price. These are just business problems.
Sometimes business pain points will be obvious. In other instances, you will need to ask some key questions to get to the bottom of the major problem. Here are some critical questions that will assist you:
- What is the biggest inhibitor to your business’ growth?
- What does your boss obsess about?
- Why are you losing deals?
- What are your gripes?
- What takes up your greatest amount of time throughout the day?
- What is discussed again and again by senior management at all-company meetings or stand-ups?
- Why are customers churning?
Once you have determined your business pain points, you then need to determine how serious they are. Are you losing customers? Is there friction within your business? This will help you to decipher which of your pain points are the most critical and how much of your resources should be attributed to them.
There are a few things you can do to assist the process of addressing business pain points. This includes using your prospect’s language when discussing it. You should also discover who is empowered to solve pain, as well as identifying critical stakeholders as quickly as you can.
Once you have done this, your team should sit down together to discuss the best course of action. How are you going to move forward? Brainstorm ideas and make sure everyone’s voice is heard. Often, the issue has gotten so large that outsourcing or business coaching are the only solutions left. At JDR, we can assist with both. Not only can we take your marketing commitments off your shoulders, but we have an extensive background in business coaching too.
Hopefully, you now have a better understanding of what business pain points are and how you can identify them. These are not minor problems that can simply be ignored until they go away – they won’t disappear. You need to take action.