Did you know the most common problems why most small businesses fail in their first year of operation?
I am just sharing what is my limited experience is about small businesses. I am sure we can discuss in the comments below and may be find a better solution to grow our small business.
When normally people start their business they are really pumped up and they talk to friends, family member, they network, in other words they do whatever they can to get new business.
Most of the time, if they are in services business willing to accept really low remunerations.
Their passionate networking (if they did well) bring some business and they get busy serving those customers and left marketing.
When orders completed, you wait and hope to get more business from the same customers. Few businesses gets really lucky to get some sort of new business from the existing clients but majority of the businesses, start marketing from the scratch and try to find new customers again.
Majority of the business spend their business life in this circle.
To me marketing is the backbone of any business and it should not left behind especially when you are experiencing good time. You should create a system to convert one time customer to life time customer. This can only be done if your plan your marketing strategically.
Where most of small business left behind is they left marketing as soon as they start getting some return on it. Instead they should increase marketing at that stage to make sure the regular future business.
They spend majority of the life in this way. I am not making any opinion or judgment. This is just my observation and it is based on the limited observation. This is why I am writing on this to share each other’s experiences and see if we can find out any way forward as a small business owners.
Michael Garber provided a solution for this in his book Emyth revisited. He said businesses should be built around systems not around people. According to Michael every small business owner should work on their businesses instead in their business.
In my experiences because we normally build our business around a person (normally the owner) we had limitations when business grow. If we have systems in place to handle the growing business, we can deal with this issue.
How you can find out that your business is built around you or systems?
It is really easy, take a day off tomorrow and if your business can operate as usual without you being present then you did a great job to work on your business if not then you should start working on your business.
Your Thoughts & Experiences
I am always interested to take the discussion to the next stage in the comments below. Feel free to add your thoughts in comments below and grow together.
Photo credit: johnny goldstein