1,917 businesses fail on an average day in America. That’s 79 each hour, just a bit over one each minute. As you read this, 5 or 10 dreams will burn-out, whither, die due to bad business strategy.
- 30-40% of start-ups result in complete loss of capital; 95% fail to reach the investment goal.
- 50% of businesses fail within five years; only 30% survive ten years.
- 70% of family-owned businesses fail or are sold before the next generation takes over.
Why do businesses fail?
Each business that goes to the grave goes for reasons unique to itself. The owner of a failed business might acknowledge, if only silently, if only alone, that if they knew the answer to that question – or had known it in time – then, perhaps, failure could have been averted.
Ah, what might have been…
Still, analysts assign blame and count causes. We might know the answer without having to look deeper. Yet we open yet another web site or book in hopes that something magical might jump from the page.
Researchers at the University of Tennessee counted the dead and concluded that 87% of business failures were due to incompetence, bad management, lack of experience or some mix of the three. In fact, they count 13 symptoms which they then group into these three causes. Taking a direct look at the symptoms what we see are 13 bad habits.
Incompetence sounds fatal – and it often is.
Bad habits, though, can be over turned and, with time, good habits put in their stead. The 13 bad habits, upon closer examination, are, at root, failures of business strategy. They are, in one form another, consequences of failing to ask:
- How is my business really doing?
- Can I right my business?
- Am I in the right business?
- Can I get into the right business?
These are tough questions to ask. Answering them goes beyond the casual answer given to even those closest to you. The answers require concerted thought, not simply consulting tip sheets and scanning advice columns.
Businesses Fail Due to Poor Business Strategy, What’s Yours?
Businesses fail because they do not have a good strategy. They lack:
- A clear purpose
- The right markets
- The right position in their market
- The right revenue model
- The right cost structure
- Reliable cash intelligence when they need it
Strategy for independent business has never been more critical. Competitors come on-line, quite literally, over night. Tier one industrial powerhouses and big box retailers continue to squeeze profit from every link in the supply chain. Yet, despite dire structural economic warnings, opportunities and innovations are developed and announced every day.
Our customers and you know that there are pages and pages of books and electronic media about business strategy. Developing a strategy right for your business, right for you, isn’t as easy as copying a list from a book or listening to a self-professed guru. It seems like everyone can tell you how to do it. But, no one can do it for you. If you’re ready to bring strategy squarely into your independent business, you may need help. You can’t do everything yourself. Not in time and not all at once. You need a team to create and execute your strategy.
When you’re ready for help, we’re here to help. If our approach sounds like a good fit for you, the next step would be to determine what level of help you want, need and are ready to pay for. As a starting point, we offer three service packages ranging from $1,000 to $25,000, with service contracts ranging from one week to one quarter.
Purposeful Business Strategy
Regardless of the package you select, we provide:
- Clear purpose
- Understanding – just where your business is with respect to your goals through your current means of analysis
- Acceptance – that current modes of leadership and management are insufficient to move your business forward
- Awareness – that alternative modes exist, that you have choices
- Insight – into hidden segments of high and low profitability
- Resolve – to make choices which are best for your business
- Confidence – to follow your stars, to answer your questions, to protect your cash and to let your losses go.
- Integrity – through a synthesis of understanding, acceptance, awareness, insight, resolve and confidence, you’ll make better, fewer decisions, with longer-lasting, more profitable impact on your business and in your life.
Our services are guaranteed. No fine print. No exceptions.
Very profitable opportunities exist for independent business
To uncover opportunities, you need effective business strategy. We exist to help you bring business strategy into your every day business based on where you are right now, with assets currently at your disposal. If you are ready, take the next step. Just complete and submit the form below now.