7 Reasons Most Small Businesses Fail: Make Sure Your Venture Succeeds

Written by on November 30, 2012 in Career - No comments | Print this page

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Most businesses fail – it’s a simple fact of life. The concept of the free market is a harsh one and it’s more important than ever for new business owners to elevate their game and do more to build their business up. In this post we will run through some of the best strategies for ensuring your new business venture isn’t just another statistic.

It’s all in your head:

One of the main reasons a lot of businesses fail is simply due to the mindset of the business owner – you need to remember that you are in business. You need to take yourself seriously if you want your customers to.

Only invest in what you need:

Evaluate what you actually need to start up – for most service-based businesses this should be relatively little. Do you really need that new iMac? Probably not. Do you really need an office space? Cut every conceivable cost.

Your website is more than a business card:

Many small business owners treat their websites like glorified business cards, as merely a portal to refer people to for a little bit more information. In reality, and particularly during the early stages of your business, your website should be a marketing resource in itself – it’s the perfect place to pull e-mail addresses from prospective customers and develop and organic search campaign around.

Get out there and meet people:

It never fails to amaze me how few small business owners fail to actively go out and make new connections – networking presents the perfect opportunity to do this. If you are limited by time, then consider joining online forums too; forums represent a great way to meet other small business owners and spread the word about what you’re trying to achieve. Foster any and all connections you make through social media channels.

Be creative:

“Doing enough” is never going to be enough to take your business forward, faster – try putting a unique spin on your service provision, particularly when it comes to marketing your business online. For example, rather than simply communicating with people via online forums, actively try to engage with them – offer free snippets of information and demonstrate why you’re among the best at what you do (which leads us nicely onto the next point).

Demonstrate your expertise:

There’s no better way to spread the word about your business than by actively showing people why they should take on your services, or buy your products. Networking again presents a great opportunity to do this – many networking events afford members the opportunity to showcase their abilities in-front of the entire group, take the opportunity and get in-front of as many people as possible.

Free Seminars:

Drawing on from the previous point, utilise social media networks such as Linked In to get your business in-front of a crowd – publicise a free event in your local area which is free for all to attend. Don’t push a sales pitch, but rather spend a couple of hours demonstrating your expertise – Linked In allows you to promote your event free of charge.

This is a guest post.  Gareth Mailer is a business owner and small business marketer. Visit Clickwork Media now for more information on SEO courses in London and across the UK

Image courtesy of Stuart Miles / FreeDigitalPhotos.net

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