This document discusses reasons why businesses fail to grow, with a focus on poor marketing as a key contributor. Some key points:
- Only 5% of companies reach $1 million in annual sales and 0.08% reach $5 million, showing how few businesses experience significant growth.
- 90% of businesses become stagnant, with 60% of those stagnant businesses citing poor marketing as a critical reason.
- Studies found that businesses that continued advertising during recessions had much higher sales than those that cut advertising costs. For example, when milk advertising was cut in the early 1990s, sales plummeted and took over a year to rebound.
- Many business executives lack confidence in their