Quality Products + Happy Customers = Profitable Business.
This isn’t rocket science, so why do 80% of businesses fail in the first 5 years and 80% of those fail in the next 5 years?
The formula makes sense; happy customers should lead to higher revenues and more profits. Business owners go into business with a product or service they believe they produce at a quality level to keep their customers happy. Yet over 100,000 businesses will fail this year.
Businesses fail not because of competition, poor product or service, or even the economy. Businesses fail because of poor business leadership and trying to go it alone.
Team challenges, too many opportunities, not enough leads, quality control, time management, low funding, inconsistent cash flow, communication with partners, communication with everyone, bookkeeping, ordering supplies, accounts receivable, marketing, knowing the numbers, influencing the numbers and on and on… And that is all before the pressures outside of the business kick in. There is so much to do every day as a business owner it gets difficult to know where to turn next. Moving from fire to fire creates continual chaos.
A profitable business requires a focused business leader, written goals, an action plan to reach those goals, and someone to hold the business owner accountable.
It isn’t rocket science to have a profitable business, it takes doing the right things right, consistently day after day. A business coach helps you to stay focused on what that is for your business.