Clarity in Business is the Key to Success

In 2019 the Small Business Association (SBA), stated that 70% of new businesses succeed during the first two years of being open, and that then dropped to 50% when looking at success rates during the first five years. So why do you think there is a drop? Any ideas?   

Here are the top 4 reasons are:

1. Lack of capital

2. Lack of business acumen held by a management team or business owner.

3. Lack of business planning and infrastructure

4. Marketing lack of preparation and the correct type of marketing

The one thing that is important is that we need to constantly be revisiting our business plan and strategy.  Your business is unique and what you want from the business, and what you bring to your business is unique to anybody else.

If you have clarity, your path forward becomes easy. It also allows you to work in a proactive way – you see when you don’t have clarity you become reactive to things, and your staff will behave in the same way.

It will make it difficult for those around you to share in your vision without that clarity.  Your staff will turn up, do their job and go home.

But, if you have clarity, they too know what you want to achieve and they can be part of that journey with you. It’s what people want, it’s what Millennial’s want. They want to know they are making an impact and that you value them…  They want to contribute.