Small Business Failure and Some Thoughts to Avoid It
According to the US Small Business Administration, only 50% of the businesses started in the U.S. survive more than five years. The SBA goes on to say that a lack of capital is seldom the reason for failure. Rather they say small businesses fail because they don’t have a plan for attracting new customers or clients.
The aim of our business is to show small businesses owners and entrepreneurs how to fill their pipeline and achieve growth month after month and avoid being one of the statistics. Learning to create and execute an impactful marketing program followed by strong sales execution can make the difference between enjoying success or fading away.
Most people, when they go into business believe they are very good at what they do and that their expertise will make them successful. Unfortunately, being an expert in the products or services offered does not necessarily transfer into knowing how to grow a business and generate cash flow. More often than not those who survive and rise to the top got there not because they are the best at what they do, but because they are the best at marketing and selling themselves.
When a small business is profitable, it’s not only allows you to continue to survive but also to enjoy the freedom and fulfillment that comes from owning your own business. If you fail, it impacts you and often others and has an impact on the health of our overall economy. Small business employees half the people who work in the private sector and has a generated approximately 80% of the net growth and jobs in the U.S. over the last decade that makes reversing the high rate of failure our business priority.
Mworks740 • January 11, 2023
Posted in these categories:Expertise, Marketing Insights, Marketing Tips, Sales Enablement
With these tags:LinkedIn, Successful selling