How Small Businesses Go Belly Up

We’ve all heard this BS saying — “Over 90% of small businesses fail.” Its people's excuse to not start a business in the first place and it’s the excuse of why they failed, along with:

We ran out of money

We had the wrong market

We’re not experts in our industry

The Tax Man screwed me over.

Truth is, having a successful business isn’t about luck… It’s a skill issue, and In this article I will show you the main pitfalls in running a small business and how to avoid total annihilation.

How Word Of Mouth Can Send Your Business To The Shadow Lands

Ever read an unhinged Google review? Business owners and customers having a he said she said screaming match in the review section, or business owners being unnecessarily condescending.

I found a quick example:

“No good customer”

My brother in Christ… what are you dooooing man.

It’s like he’s ASKING for a 1 star review, like how your drunk uncle talks himself into handcuffs at your sister’s wedding.

Word gets around really darn quick if you act the fool. The moment you start having a bad rep around town, your business will sink quick!

All it takes is a single negative review to dim the light of 10 positive ones. The best you can do is thank them for their time then bid them farewell.

So for the love or God, play nice with your customers.

Yes… even when they’re being an ass.

How The Lack Of Oversight Can Kill A Business

You may already have employees, and maybe you have some clients. Do you know how your employees are performing?

Employees who you’ve never followed up on after hiring can burn a business down fast.

I am not saying to micromanage them, but you need to have some pretty solid policies and qualities of standard so they don’t start running a muck.

It’s like being a fine dining chef and suddenly somebody starts sending out burnt filet mignons no matter how they’re ordered. You are definitely doing to lose business big time.

You’ve got to make sure that everybody is on the same page.

Is your scheduling on point?

Is your manager being a douche?

Are YOU being a douche?

Really look into this, it will save you a ton of heartache.

Your Network Really Is Your Net-worth

You’ve got to network with people in your business community. When a different local business finds out what you do and that you’re confident in your product — once you start talking to people, somebody’s going to need that service.

Once you start networking, the sales process becomes a whooooole lot easier. Everybody begins to find out who you are, and you’re no longer a stranger. And visibility is the MOST important metric for a business.

If you have any clients at all, visibility will be one of your top KPIs (Key Performance Indicator) you should be tracking. Period.

How many phone calls have you made, how many emails have you sent, is your marketing reaching your customer?

How Bad Marketing Can Capsize Your Business

How can people buy from you if they don’t know who you are? You’re effectively invisible.

Make sure your message is resonating with your audience well. This takes pretty good understanding on why your customer would want a product like yours in the first place.

Remember, people do do not care about what your product is,

They care about what it does for them.

They don’t care that you’ve been serving Washington DC for 57 years,

They care if you can do the job how they want.

Right here is how you write an Ad or any sales script that’ll make you CASH. I think you’ll like it.

Anyway, effective advertising is how you really reach a ton of people in your area. If you’re relying on word of mouth to keep you a float — think again.

The worst number in business is one

one client

one sales channel

one advertisement

one employee

Lose any of them then your business will plummet into the deepest trench. And it’s going to suck.

So stay on your p’s and q’s and and make sure you’re chasing the right rabbit.

Happy hunting,

-Jason Anderson

P.S. If you’d like me to help you out with this, or write your stuff, or help you write better stuff… that’s possible!

Get in touch with our agency today. If we’re a good fit I will personally take a look at your company and your marketing, come up with a strategy of what I’d do differently and discuss it with you in depth on a call.

No cost, no obligation.

If you want to work together I’ll tell you exactly how that works, if you don’t want to work together that’s fine too. No hard selling, no pressure, no annoying sales tactics.

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