The Untapped Potential in your Business Could Be the Death of It…
Here are some sobering statistics: Businesses with fewer than 20 employees have only a 37% chance of surviving four years (of business) and only a 9% chance of surviving 10 years.
(Please note, this is according to a study by Dun & Bradstreet and these numbers were accurate during GOOD economic times.)
We have all heard these facts before; making a small business successful is difficult. So you might find yourself asking, “What makes the difference between thriving and barely surviving business, in any economic climate?”
Answer: It’s not the product or service; it’s the plan OR strategy the leadership are following. THAT is the key element.
Just think about it, the Small Business Association has been quoted saying that the top 2 reasons small businesses fail are:
1) Poor financial management
2) Unclear or under developed plans
Which brings to mind and makes true the old saying, “People don’t plan to fail, they fail to plan”
Are you beginning to see that when you fail to plan you kill your return on marketing and return on sales? It’s as if you are the driver of a super fast, eco-friendly car and you are intentionally slamming on the breaks with your foot on the accelerator…
Just suppose for a moment you are the super-conscious leader of a mega-successful organization that helps thousands of people every year… Okay you are probably thinking, “I AM that person!” And weather you are becoming or have already manifested this, know that most businesses are inefficient at quickly getting their services to market, and they repeat the pattern with lengthy sales cycles too.
- 70% of your prospects never receive effective sales follow-up
- The average sales cycle is 50% longer then it needs to be, for the same result
You are probably missing out on some sales…
And you just might be wasting some of your precious time…
As you nod your head yes, know that this means less impact and helping less people then your organization has the potential to.
As mentioned above about business failure; businesses are failing everyday because they lack the plans and strategies necessary to be potent in their marketing and sales.
Any expert will agree that when a business is unable to quickly market or sell their services, they too, have many other areas for improvement. AND that if they don’t make changes to those systems they put their business, mission, and profit at risk of failure.
And with over 10,000 small businesses closing nationwide every week, can you really afford to wait around for the magic strategy to appear in a vision? Can you really sit idle while money and time gets senselessly wasted on your sales and marketing?
As you think about the future of your business, knowing you must make changes and there is opportunity to improve, then take a look at our Revenue Recovery Strategy.