Kimberley Charman www.kimberleycharman.com

 

 

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WHY OVER 50% OF SMALL BUSINESSES FAIL – AND HOW YOU CAN AVOID BEING ONE OF THEM

  

Research shows that over 50% of all small businesses fail within the first five years.  Why?   Here are the 5 key reasons I see people fail in their business:

  1. They focus on getting sales so they are constantly looking for new business.
  2. They don't stand out from their competition.
  3. They fail to communicate clearly what it is they offer.
  4. They struggle with self-doubt and negativity.
  5. Their business doesn’t deliver the lifestyle they hoped for so they give up.

That’s the bad news.

  

The good news is that you can be different.  You can be in the 50% who succeed – and even in the top 10% who succeed beyond their wildest dreams.

  

First of all, take a moment to congratulate yourself for having the courage to actually start your own business. You are already way ahead of most of the population.

  

When you start a business, there are basically four areas you need to become expert in if you want to be successful. 

  • You need to know why you're doing it (start with the end in mind);
  • You need to know what to do (what skills do you need to learn);
  • You need to know how to do it (the step by step nitty gritty); and
  • You need to get on and just do it - and get really good at doing it.

Sounds simple?  Well, yes and no.

  

Growing a business is simple, but it’s not easy.  If it was easy, 100% of all small businesses owners would be 'living the dream' instead of 50% failing.  So what makes the difference between your business being successful or your business failing?   If you want to be successful, you must learn how to:

  • Focus on building relationships so sales come to you.
  • Stand out from your competition so people buy you.
  • Identify what people are looking for and show how you provide the answer.
  • Overcome self-doubt and invest in learning new skills and disciplines.
  • Check your business is giving you what you want – and if not, make some changes to get back on track.

Which 50% do you want to be in?

  

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KIMBERLEY CHARMAN

I am a self-employed entrepreneur with multiple streams of income including traditional, online and network marketing businesses.  I started out, in 1999, like most self-employed people exchanging my time for money until I realised that to earn more, I had to continually work more.  So I went on a quest to find ways to earn money even when I was sleeping.  Now, I only build businesses that don’t tie me to working in a specific place at a specific time because I love my freedom!  

 

If you're in the early stages of starting and growing your own business, or just thinking about starting a business from home, I can help you:

  • Decide if self-employment is right for you and what kind of business will meet your goals
  • Show you how to do the most important actions you must do if you want to be successful
  • Develop ways to create income when you sleep (even in a traditional business)