Andrew Min, a financial advisor and Wealth Management specialist at John Blake Financial Solutions.
The 3 Biggest Reasons Why People Give up when Implementing New Ideas

Implementing new ideas is such an interesting and
exciting time.

It can hold within it the promise of an exciting new
future or another potential failure.

In addition to that, implementing something new
that actually works can totally change the game for
your business and your life.

In my 26 years in business I have experienced my
fair share of both.

So why do people give up?

In my experience it comes down to these 3 core reasons.

Not understanding statistical significance
180 degree wholesale change
Too longer delay without results

My goal for you in reading this is that you can
better prepare and execute new ideas in your business
knowing what to expect and hopefully hanging in
there longer to give you a better chance of
getting a great result.

Not understanding statistical significance

Years ago I heard a saying that has always stayed
with me… “If you do something often enough,
a pattern will appear”

I talk about this a lot when it comes to my clients
implementing my direct to corporate strategy.

Essentially, what statistical significance is, is
making sure you are looking at a large enough sample
to judge overall result trends.

For example, what I know is, as it relates to sending
out my direct to corporate packs is that for ever 10
you send out, you will speak to 6 people and you
will get appointments with 1-2 people.

But if you send out your first 10 packs, are
those results guaranteed? No

why?

Because for your results to be statistically
significant, you would need to send out between
50 and 100 different packs.

In the planning of implementing any new challenge,
make sure you set realistic time frames and
expectations on when you will expect a result.

Make sure you take into consideration things
like statistical significance as well as user error
and leave an adequate window of time to expect
results.

180 degree, wholesale change

Another way of referring to this is “throwing
the baby out with the bathwater.

A few years ago I made this mistake and it cost me big time.

Essentially, I started operating under a totally
new business model and my results fell way short of my expectations.

I learned a heap from it but it set me back almost
6 months on my journey.

In essence, I changed things too quickly rather than
starting with and then building on some smaller
wins before I made bigger, wholesale changes.

Too long a delay without results

“When do we move on ?” is such an important question.

At what point do you cut your loses and simply
put it down to experience?

The answer is going to vary from project to project.

You need an evaluation of what’s happened.

If you aren’t getting results it typically comes down to three things…

The strategy itself – has the strategy worked for others?

If it has then it’s unlikely the strategy is flawed.

If it’s not the strategy it could be an execution issue – are your
team doing the right thing or are they using an
incorrect approach?

If that’s the case it may be a training issue

Having someone to guide and coach you during
implementation can make a massive difference in this regard.

In fact, in some research completed by Olivero, Bane
and Kopelman it clearly showed that training alone
can produce a 22% improvement in results whereas
training combined with structured ongoing coaching
and implementation support can improve results by
up to 88%

I always focus on creating some quick wins in the
first 4 – 6 weeks for new clients and I have 3 specific strategies that
are designed to do just that.

That way when we implement some longer term
strategies, we are working on a solid foundation of success.

If you need some help developing or implementing a new sales strategy
let me know by emailing me at john@john-blake.com.au

Colorful ebook cover with title 'John Blake: The Autobiography' and author name.

FREE AUDIO TRAINING & EBOOK

Free Audio Training and PDF Guide Shows Precisely How to Fix Your Follow Up For Good - Get My Complete System For Doubling Sales With Your Existing Lead Flow.