Let’s think back…why did you launch your business? Did an opportunity present itself that was too good to pass by? Was there a driving desire to be your own boss or, maybe, you created an incredible product or service that was absolutely needed in the market. Regardless of the start, congratulations! You got your business off the ground and made it through the start up years.
US Bureau of Labor statistics show that more than 600,000 businesses start up each year but an almost equal number close. Although percentages fluctuate, 20% of businesses close in the first year, 50% after 5 years and only 35% survive after 10 years. There is one constant with the most successful businesses—to keep it going, you’ve got to help it grow!
How do you know if your business is growing? Besides the happy dance you may be doing each morning as a successful entrepreneur, here are some key indicators of a growing business: You’re making money—profits are greater than losses. Sales are growing—there’s a continued and growing demand for your product or service. You deliver a positive client experience—your customer base is retained and growing. You’ve created a culture of success with your employees—low turnover, high retention.
So, you’ve checked the box on these key indicators, yet you know your business can be even more successful. What’s holding you back? The most common answers:
- There are just not enough hours in a day. I am constantly juggling what I need to do with what I want to do.
- Processes are stagnant or nonexistent and I feel like the Shell Answer Man with everyone coming to me for answers.
- I don’t know what comes next and it’s at the forefront of my thoughts at 3am.
One or more of these answers sound familiar?
There is no one-size-fits all answer but streamlining your business infrastructure will go a long way to remove hurdles, manage risk and give you time to focus on your business passion. Let me bring my experience to you as we address regulatory and operational risks. Let’s discuss what’s holding your business back, assess it and determine the best way to manage it and put a plan in place to monitor it giving you peace of mind and allowing your business to continue to grow!
Intrigued? Have questions? Please email me at firstname.lastname@example.org and let me bring the business I’m passionate about to you.