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Why Most Businesses Fail
These are reasons that most business fail:
- They have inadequate Marketing and Business Systems -
- Poor business systems result in higher costs and lost time. Inadequate Marketing Systems produce poor customer service, and an inability to get new customers and to keep them coming back. A combination of high costs and lack of customers will cause businesses to fail.
- They have problems with staff due to a lack of People Systems -
- Staff problems start with poor selction, no real job description, inadequate training, no structured performance review and rewards unlinked to performance. Without good people systems, your best staff will leave, and your other staff will stay, remain unmotivated, and ultimately be a participant in the demise of your business.
- They act tactically, not strategically, without Marketing and Business Strategies or Plans -
- In order to grow your business, or even just to maintain your current position, it is essential to have marketing and business strategies that identify and maximise all opportunities and address threats to your business. Without these strategies being continually updated, market share can be lost while your products and services decline in value in a changing marketplace.
And the final reason that businesses fail is that while they recognise these issues, most business owners prefer to talk about their problems rather than act to fix them.
When you look at all successful business owners, they have two things in common. They have all accepted help along the way, and they have been prepared to act to address the problems in their business.
So, why is it the case that so few businesses seek assistance, until it's too late?
There are three main reasons:
- Firstly, they don't believe anyone can onderstand their business as well as they do, and see getting help as an admission of failure. Many say- "I can do this myself!?" But almost no-one does it themselves. A survey we did in 2003 showed that 96% of business owners who said this, still had done nothing six months later! If you change nothing- nothing changes!
- Secondly they see obtaining assistance as a cost rather than an investment in their business.There is acommon belief that consultants are expensive. Well they are if you leave it too late! But in most businesses, there are hidden areas of profit just waiting to be uncovered. When this profit is released into your business, its value can be tens of times the cost of a good consultant. How often do you get the opportunity to put money into an investment with a 1000% return?
- And thirdly, they may have had a bad experience previously when they have sought assistance. They are skeptical that anyone knows as much about their business as they do. So what you need is .... the 'Right Kind of Help'
If you would like to find out if your business is at risk, and how you can rescue it, book your no obligation FREE consultation today, and turn around you business now! Don't just talk about it- ACT NOW!
Your Goals are only achieved when You take Action.Top of Page
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