In this 1 hour webinar hosted by BizCentral USA, we take a look at the top reasons small businesses fail and how to avoid these dire mistakes! For more information, please visit:
In this 1 hour webinar hosted by BizCentral USA, we take a look at the top reasons small businesses fail and how to avoid these dire mistakes! For more information, please visit: http://bizcentralusa.com/start_business.php
Director of Business Development
HBIF Meeting 12-09
• Introduction to the top reasons small businesses
• The current state of entrepreneurs & small
• Characteristics that can make or break any
• The top 5 reasons for small business failure & how
to avoid those dire mistakes
• Americans dream of
owning their own business
for variety of reasons:
Pride of ownership
Prove people wrong
Only 44% New
1/3 of of New
50% of Businesses
go Businesses in
the First upPast
Survive it to
A Head for
Good Money Skills
Competitive Risk Taker
• Build a Solid Capital Structure
Keep Strict Money Records
Set Aside Seed Money
Evaluate Want vs. Need
• Consider location in regard to:
• The selected site SHOULD meet the business’
• Learn how to market cost-effectively and time-
• Target your marketing efforts with intense research.
• Create a marketing plan with a budget.
• Excel at customer service – Word of Mouth is one of
the strongest marketing tools!
• Focus on the 4 P’s
• Keep your friends close, but your enemies closer!
Know their promotions and special offers
Know about updates they make to their website and new
communication methods they are using.
• Create your unique selling proposition and push it.
Emphasize your USP in your promotions and marketing.
It is your USP that will attract prospects to your business
rather than your competition.