Why small businesses fail and what you need to do in order to mitigate these risks.Abandoned industrial interior with bright light

Why small businesses fail and what you need to do in order to mitigate these risks.  This is a fascinating article written by Bernard Marr, Best-Selling Author and Keynote Speaker.  In it he reveals the main reasons why small businesses struggle and more importantly, some of the potential ‘fixes’.
As regular readers of my blogs will be only too well aware, points 2, 3 and 6 are ones I am particularly pleased – if that’s the right word to use in such circumstances – to see appear as they are issues that I see manifest themselves time and again in businesses I visit.  I strongly recommend reading Bernard’s article, which you can see by clicking here.  If nothing else, it will provide you with a checklist of topics to consider at your next strategy review.
The other point worth covering is that the fixes aren’t necessarily that difficult to deploy. They don’t cost a fortune and there are many sources of help available – including mine – to guide you.  With reference to point 3, I have written several times about why and how to create a compelling Value Proposition. One of my blogs about this can be see by clicking here. It is so important and yet still so few companies make it clear what their proposition is.
If you would like to discuss how to improve the way you plan, appeal to your prospective customers or simply sell more to existing markets or test your sales effectiveness, contact me for a no cost, no obligation review.  You can reach me on 01664 840763, 07712 305111 or at phil.partington@psalesp.com.
All the best.