SlideShare a Scribd company logo
Key Speaker
          Michael Miller
Director of Business Development
          BizCentral USA

          Administrator
          Nicole Roach
      Marketing Coordinator
     HBIF Meeting 12-09
         BizCentral USA
• Introduction to the top reasons small businesses
 fail
• The current state of entrepreneurs & small
 businesses
• Characteristics that can make or break any
 entrepreneur
• The top 5 reasons for small business failure & how
 to avoid those dire mistakes
This Year I’m
  Going to….
   Start a
     Business
• Americans dream of
  owning their own business
  for variety of reasons:
   Pride of ownership
   Flexibility
   Tax breaks
   Prove people wrong
   Personal development
   Money
Only 44% New
    1/3 of of New
50% of Businesses
  go Businesses in
   Businesses do
     “Belly-up”
  not MakeYear
   the First upPast
   Survive it to
 theFour Years
     Second Year
A Head for
     Business                     Confidence



                                         Goal Setter
   Desire for
  Responsibility        Joe
                   Entrepreneur

                                         Organization
Good Money                                  Skills
 Manager



 Competitive                               Risk Taker
   Nature
• Build a Solid Capital Structure

   Keep Strict Money Records

   Set Aside Seed Money

   Evaluate Want vs. Need
• Consider location in regard to:
      Customers

      Suppliers

      Employees

      Government regulations.

• The selected site SHOULD meet the business’
 needs.
• Learn how to market cost-effectively and time-
  effectively.
• 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.
YOU MUST HAVE A
 BUSINESS PLAN!

More Related Content

What's hot

Challenges Facing Small Business
Challenges Facing Small BusinessChallenges Facing Small Business
Challenges Facing Small Business
Lakesia Wright
 
Startup challenges
Startup challengesStartup challenges
Startup challenges
Armin Nehzat
 
Business start up challenges
Business start up challengesBusiness start up challenges
Business start up challenges
Nitin Gupta
 
Startups problems
Startups problemsStartups problems
Startups problems
Shivangi Saxena
 
9 business-turn around-strategies
9 business-turn around-strategies9 business-turn around-strategies
9 business-turn around-strategies
Gogo Erekosima
 
How to Break Through No Man's Land - The Stage Where Growing Companies Get Stuck
How to Break Through No Man's Land - The Stage Where Growing Companies Get StuckHow to Break Through No Man's Land - The Stage Where Growing Companies Get Stuck
How to Break Through No Man's Land - The Stage Where Growing Companies Get Stuck
newportboardgroup
 
Vc 101 1.0 rev3
Vc 101 1.0 rev3Vc 101 1.0 rev3
Vc 101 1.0 rev3mitsjohnso
 
Tips for a Good Pitch
Tips for a Good PitchTips for a Good Pitch
Tips for a Good Pitch
Todd Hixon
 
Building a SaaS Startup | Fernando Okumura | Lunch & Learn
Building a SaaS Startup | Fernando Okumura | Lunch & Learn Building a SaaS Startup | Fernando Okumura | Lunch & Learn
Building a SaaS Startup | Fernando Okumura | Lunch & Learn
UCICove
 
Top 6 Reasons Why Most Startups Fail
Top 6 Reasons Why Most Startups FailTop 6 Reasons Why Most Startups Fail
Top 6 Reasons Why Most Startups Fail
Monika Goel
 
Startup Failure
Startup FailureStartup Failure
Startup Failure
Leslie Shaw
 
UK IT business turnaround.
UK IT business turnaround.UK IT business turnaround.
UK IT business turnaround.
Igor Kalczynski
 
Survey questionnaire format for project
Survey questionnaire format for projectSurvey questionnaire format for project
Survey questionnaire format for projecthappy4ever321
 
25 Quotes from Guide to CFO Success
25 Quotes from Guide to CFO Success25 Quotes from Guide to CFO Success
25 Quotes from Guide to CFO Success
Samuel Dergel
 
How to REALLY Start Your Own Business
How to REALLY Start Your Own BusinessHow to REALLY Start Your Own Business
How to REALLY Start Your Own Business
Corporation Service Company
 
Preparing to seek funding
Preparing to seek fundingPreparing to seek funding
Preparing to seek funding
Andy Forbes
 
Exit Strategy and Succession Planning - From Plan to Execution
Exit Strategy and Succession Planning - From Plan to ExecutionExit Strategy and Succession Planning - From Plan to Execution
Exit Strategy and Succession Planning - From Plan to Execution
CBIZ, Inc.
 

What's hot (20)

Challenges Facing Small Business
Challenges Facing Small BusinessChallenges Facing Small Business
Challenges Facing Small Business
 
Startup challenges
Startup challengesStartup challenges
Startup challenges
 
Business start up challenges
Business start up challengesBusiness start up challenges
Business start up challenges
 
Startups problems
Startups problemsStartups problems
Startups problems
 
9 business-turn around-strategies
9 business-turn around-strategies9 business-turn around-strategies
9 business-turn around-strategies
 
Junior paper1
Junior paper1Junior paper1
Junior paper1
 
How to Break Through No Man's Land - The Stage Where Growing Companies Get Stuck
How to Break Through No Man's Land - The Stage Where Growing Companies Get StuckHow to Break Through No Man's Land - The Stage Where Growing Companies Get Stuck
How to Break Through No Man's Land - The Stage Where Growing Companies Get Stuck
 
Vc 101 1.0 rev3
Vc 101 1.0 rev3Vc 101 1.0 rev3
Vc 101 1.0 rev3
 
Tips for a Good Pitch
Tips for a Good PitchTips for a Good Pitch
Tips for a Good Pitch
 
Building a SaaS Startup | Fernando Okumura | Lunch & Learn
Building a SaaS Startup | Fernando Okumura | Lunch & Learn Building a SaaS Startup | Fernando Okumura | Lunch & Learn
Building a SaaS Startup | Fernando Okumura | Lunch & Learn
 
Top 6 Reasons Why Most Startups Fail
Top 6 Reasons Why Most Startups FailTop 6 Reasons Why Most Startups Fail
Top 6 Reasons Why Most Startups Fail
 
Startup Failure
Startup FailureStartup Failure
Startup Failure
 
UK IT business turnaround.
UK IT business turnaround.UK IT business turnaround.
UK IT business turnaround.
 
Survey questionnaire format for project
Survey questionnaire format for projectSurvey questionnaire format for project
Survey questionnaire format for project
 
25 Quotes from Guide to CFO Success
25 Quotes from Guide to CFO Success25 Quotes from Guide to CFO Success
25 Quotes from Guide to CFO Success
 
How to REALLY Start Your Own Business
How to REALLY Start Your Own BusinessHow to REALLY Start Your Own Business
How to REALLY Start Your Own Business
 
Preparing to seek funding
Preparing to seek fundingPreparing to seek funding
Preparing to seek funding
 
MREI
MREIMREI
MREI
 
Exit Planning Opportunities for Advisors
Exit Planning Opportunities for AdvisorsExit Planning Opportunities for Advisors
Exit Planning Opportunities for Advisors
 
Exit Strategy and Succession Planning - From Plan to Execution
Exit Strategy and Succession Planning - From Plan to ExecutionExit Strategy and Succession Planning - From Plan to Execution
Exit Strategy and Succession Planning - From Plan to Execution
 

Viewers also liked

Seven Classic Startup Failure Modes
Seven Classic Startup Failure ModesSeven Classic Startup Failure Modes
Seven Classic Startup Failure Modes
Joe Dunn
 
Reasons Of Family Business Failures
Reasons Of Family Business FailuresReasons Of Family Business Failures
Reasons Of Family Business Failures
evrenyuksel5113
 
Fail Hard: 15 Quotes on Failing to Succeed
Fail Hard: 15 Quotes on Failing to SucceedFail Hard: 15 Quotes on Failing to Succeed
Fail Hard: 15 Quotes on Failing to Succeed
Palo Alto Software
 
HR / Talent Analytics
HR / Talent AnalyticsHR / Talent Analytics
HR / Talent Analytics
Akshay Raje
 
API Business Models
API Business ModelsAPI Business Models
API Business Models
John Musser
 
Feasibility report -basic concepts with example
Feasibility report -basic concepts with exampleFeasibility report -basic concepts with example
Feasibility report -basic concepts with exampleAbhijeet Bhosale
 
Social Media for Business
Social Media for BusinessSocial Media for Business
Social Media for Business
Presentation Advisors
 
10 New Business Models for this Decade
10 New Business Models for this Decade10 New Business Models for this Decade
10 New Business Models for this Decade
Ouke Arts
 
Project planning and feasibility study
Project planning and feasibility studyProject planning and feasibility study
Project planning and feasibility studyMars Mfyam
 

Viewers also liked (11)

Seven Classic Startup Failure Modes
Seven Classic Startup Failure ModesSeven Classic Startup Failure Modes
Seven Classic Startup Failure Modes
 
Reasons Of Family Business Failures
Reasons Of Family Business FailuresReasons Of Family Business Failures
Reasons Of Family Business Failures
 
Loans (1)
Loans (1)Loans (1)
Loans (1)
 
Fail Hard: 15 Quotes on Failing to Succeed
Fail Hard: 15 Quotes on Failing to SucceedFail Hard: 15 Quotes on Failing to Succeed
Fail Hard: 15 Quotes on Failing to Succeed
 
Kodak Case Study
Kodak Case StudyKodak Case Study
Kodak Case Study
 
HR / Talent Analytics
HR / Talent AnalyticsHR / Talent Analytics
HR / Talent Analytics
 
API Business Models
API Business ModelsAPI Business Models
API Business Models
 
Feasibility report -basic concepts with example
Feasibility report -basic concepts with exampleFeasibility report -basic concepts with example
Feasibility report -basic concepts with example
 
Social Media for Business
Social Media for BusinessSocial Media for Business
Social Media for Business
 
10 New Business Models for this Decade
10 New Business Models for this Decade10 New Business Models for this Decade
10 New Business Models for this Decade
 
Project planning and feasibility study
Project planning and feasibility studyProject planning and feasibility study
Project planning and feasibility study
 

Similar to Top Reasons Small Businesses Fail

2012 Small Business Toolkit
2012 Small Business Toolkit2012 Small Business Toolkit
2012 Small Business Toolkit
Brent McCoy, IOM
 
Chapter 2 - Successful and Unsuccessful Entrepreneurs1.pptx
Chapter 2 - Successful and Unsuccessful Entrepreneurs1.pptxChapter 2 - Successful and Unsuccessful Entrepreneurs1.pptx
Chapter 2 - Successful and Unsuccessful Entrepreneurs1.pptx
rhrassanconnect
 
LIFT Business Growth Report 2014: Part 1
LIFT Business Growth Report 2014: Part 1LIFT Business Growth Report 2014: Part 1
LIFT Business Growth Report 2014: Part 1
Michael Linder
 
Planning, launching and management strategies of small businesses
Planning, launching and management strategies of small businessesPlanning, launching and management strategies of small businesses
Planning, launching and management strategies of small businesses
Ramabhau Patil
 
Entrepreneurship
EntrepreneurshipEntrepreneurship
Entrepreneurshipctechb
 
Entreprenuership
EntreprenuershipEntreprenuership
Entreprenuership
Finnich Vessal
 
Business Research Strategies - The Business Plan
Business Research Strategies - The Business PlanBusiness Research Strategies - The Business Plan
Business Research Strategies - The Business Plan
Opal Berry
 
AYBD Workshop 1.pptx
AYBD Workshop 1.pptxAYBD Workshop 1.pptx
AYBD Workshop 1.pptx
Anamaria Contreras
 
What do you know about Entrepreneurship - Brittany Killins
What do you know about Entrepreneurship - Brittany KillinsWhat do you know about Entrepreneurship - Brittany Killins
What do you know about Entrepreneurship - Brittany Killins
brittanykillins
 
Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31
Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31
Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31
Finnich Vessal
 
Succeeding in business pt 1
Succeeding in business pt 1Succeeding in business pt 1
Succeeding in business pt 1
Tony Morrison
 
Ideas To Deals 3 19 09 V2
Ideas To Deals 3 19 09 V2Ideas To Deals 3 19 09 V2
Ideas To Deals 3 19 09 V2
Michael Bowers
 
Ten Entrepreneur Early Warning Signs for Barriers to Wealth Creation
Ten Entrepreneur Early Warning Signs for Barriers to Wealth CreationTen Entrepreneur Early Warning Signs for Barriers to Wealth Creation
Ten Entrepreneur Early Warning Signs for Barriers to Wealth Creation
Charles Bedard
 
Think Like An Executive: The Business of Knowing Their Business
Think Like An Executive: The Business of Knowing Their BusinessThink Like An Executive: The Business of Knowing Their Business
Think Like An Executive: The Business of Knowing Their Business
ValueSelling Associates, Inc.
 
Ch06 Introduction to management
Ch06 Introduction to managementCh06 Introduction to management
Ch06 Introduction to managementAsameno Sime
 
Managing Small Business Start-Ups
Managing Small Business Start-UpsManaging Small Business Start-Ups
Managing Small Business Start-Upsmandalina landy
 
Bad Advisor Syndrome Article
Bad Advisor Syndrome ArticleBad Advisor Syndrome Article
Bad Advisor Syndrome Article
Charles Bedard
 
Business Presentation
Business PresentationBusiness Presentation
Business Presentationammaronyates
 
Entrepreneurship Lec-1
Entrepreneurship Lec-1Entrepreneurship Lec-1
Entrepreneurship Lec-1
University of Balochistan
 

Similar to Top Reasons Small Businesses Fail (20)

2012 Small Business Toolkit
2012 Small Business Toolkit2012 Small Business Toolkit
2012 Small Business Toolkit
 
Chapter 2 - Successful and Unsuccessful Entrepreneurs1.pptx
Chapter 2 - Successful and Unsuccessful Entrepreneurs1.pptxChapter 2 - Successful and Unsuccessful Entrepreneurs1.pptx
Chapter 2 - Successful and Unsuccessful Entrepreneurs1.pptx
 
LIFT Business Growth Report 2014: Part 1
LIFT Business Growth Report 2014: Part 1LIFT Business Growth Report 2014: Part 1
LIFT Business Growth Report 2014: Part 1
 
Planning, launching and management strategies of small businesses
Planning, launching and management strategies of small businessesPlanning, launching and management strategies of small businesses
Planning, launching and management strategies of small businesses
 
Entrepreneurship
EntrepreneurshipEntrepreneurship
Entrepreneurship
 
Entreprenuership
EntreprenuershipEntreprenuership
Entreprenuership
 
Business Research Strategies - The Business Plan
Business Research Strategies - The Business PlanBusiness Research Strategies - The Business Plan
Business Research Strategies - The Business Plan
 
AYBD Workshop 1.pptx
AYBD Workshop 1.pptxAYBD Workshop 1.pptx
AYBD Workshop 1.pptx
 
What do you know about Entrepreneurship - Brittany Killins
What do you know about Entrepreneurship - Brittany KillinsWhat do you know about Entrepreneurship - Brittany Killins
What do you know about Entrepreneurship - Brittany Killins
 
Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31
Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31
Azhar microsoft-bizspark-entrepreneurs-march-11-2009-ver-31
 
Succeeding in business pt 1
Succeeding in business pt 1Succeeding in business pt 1
Succeeding in business pt 1
 
Ideas To Deals 3 19 09 V2
Ideas To Deals 3 19 09 V2Ideas To Deals 3 19 09 V2
Ideas To Deals 3 19 09 V2
 
Ten Entrepreneur Early Warning Signs for Barriers to Wealth Creation
Ten Entrepreneur Early Warning Signs for Barriers to Wealth CreationTen Entrepreneur Early Warning Signs for Barriers to Wealth Creation
Ten Entrepreneur Early Warning Signs for Barriers to Wealth Creation
 
Think Like An Executive: The Business of Knowing Their Business
Think Like An Executive: The Business of Knowing Their BusinessThink Like An Executive: The Business of Knowing Their Business
Think Like An Executive: The Business of Knowing Their Business
 
Ch06 Introduction to management
Ch06 Introduction to managementCh06 Introduction to management
Ch06 Introduction to management
 
Managing Small Business Start-Ups
Managing Small Business Start-UpsManaging Small Business Start-Ups
Managing Small Business Start-Ups
 
Bad Advisor Syndrome Article
Bad Advisor Syndrome ArticleBad Advisor Syndrome Article
Bad Advisor Syndrome Article
 
Business Presentation
Business PresentationBusiness Presentation
Business Presentation
 
JEFFREYSTARKRESUME
JEFFREYSTARKRESUMEJEFFREYSTARKRESUME
JEFFREYSTARKRESUME
 
Entrepreneurship Lec-1
Entrepreneurship Lec-1Entrepreneurship Lec-1
Entrepreneurship Lec-1
 

More from BizcentralUSA

The Art of Managing a PR Crisis by OnlineReputation.com
The Art of Managing a PR Crisis by OnlineReputation.comThe Art of Managing a PR Crisis by OnlineReputation.com
The Art of Managing a PR Crisis by OnlineReputation.com
BizcentralUSA
 
Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...
Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...
Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...
BizcentralUSA
 
Partner Training: Pricing & Packages
Partner Training: Pricing & PackagesPartner Training: Pricing & Packages
Partner Training: Pricing & Packages
BizcentralUSA
 
Partner Training: Marketing & Networking Tools
Partner Training: Marketing & Networking ToolsPartner Training: Marketing & Networking Tools
Partner Training: Marketing & Networking Tools
BizcentralUSA
 
Partner Training: Sales skills
Partner Training: Sales skillsPartner Training: Sales skills
Partner Training: Sales skills
BizcentralUSA
 
Partner Training: Web Development
Partner Training: Web DevelopmentPartner Training: Web Development
Partner Training: Web Development
BizcentralUSA
 
Partner Training: The Small Business Sector
Partner Training: The Small Business SectorPartner Training: The Small Business Sector
Partner Training: The Small Business Sector
BizcentralUSA
 
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
BizcentralUSA
 
Partner Training: Small Business Certifications
Partner Training: Small Business CertificationsPartner Training: Small Business Certifications
Partner Training: Small Business Certifications
BizcentralUSA
 
Partner Training: Marketing Strategies
Partner Training: Marketing StrategiesPartner Training: Marketing Strategies
Partner Training: Marketing Strategies
BizcentralUSA
 
Partner Training: Graphic Design & Branding
Partner Training: Graphic Design & BrandingPartner Training: Graphic Design & Branding
Partner Training: Graphic Design & Branding
BizcentralUSA
 
Partner Training: Business Plan Development
Partner Training: Business Plan DevelopmentPartner Training: Business Plan Development
Partner Training: Business Plan Development
BizcentralUSA
 
Grassroots Marketing with an Edge
Grassroots Marketing with an EdgeGrassroots Marketing with an Edge
Grassroots Marketing with an Edge
BizcentralUSA
 
Basic Financial Management for Small Businesses
Basic Financial Management for Small BusinessesBasic Financial Management for Small Businesses
Basic Financial Management for Small Businesses
BizcentralUSA
 
Using & Updating Your Business Plan
Using & Updating Your Business PlanUsing & Updating Your Business Plan
Using & Updating Your Business Plan
BizcentralUSA
 
Small Business 8a Certifications
Small Business 8a CertificationsSmall Business 8a Certifications
Small Business 8a Certifications
BizcentralUSA
 
Must Have Small Business Website Features
Must Have Small Business Website Features Must Have Small Business Website Features
Must Have Small Business Website Features
BizcentralUSA
 

More from BizcentralUSA (17)

The Art of Managing a PR Crisis by OnlineReputation.com
The Art of Managing a PR Crisis by OnlineReputation.comThe Art of Managing a PR Crisis by OnlineReputation.com
The Art of Managing a PR Crisis by OnlineReputation.com
 
Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...
Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...
Stache is the Airbnb of Storage! Become a Host to Earn Cash Renting Your Nash...
 
Partner Training: Pricing & Packages
Partner Training: Pricing & PackagesPartner Training: Pricing & Packages
Partner Training: Pricing & Packages
 
Partner Training: Marketing & Networking Tools
Partner Training: Marketing & Networking ToolsPartner Training: Marketing & Networking Tools
Partner Training: Marketing & Networking Tools
 
Partner Training: Sales skills
Partner Training: Sales skillsPartner Training: Sales skills
Partner Training: Sales skills
 
Partner Training: Web Development
Partner Training: Web DevelopmentPartner Training: Web Development
Partner Training: Web Development
 
Partner Training: The Small Business Sector
Partner Training: The Small Business SectorPartner Training: The Small Business Sector
Partner Training: The Small Business Sector
 
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
 
Partner Training: Small Business Certifications
Partner Training: Small Business CertificationsPartner Training: Small Business Certifications
Partner Training: Small Business Certifications
 
Partner Training: Marketing Strategies
Partner Training: Marketing StrategiesPartner Training: Marketing Strategies
Partner Training: Marketing Strategies
 
Partner Training: Graphic Design & Branding
Partner Training: Graphic Design & BrandingPartner Training: Graphic Design & Branding
Partner Training: Graphic Design & Branding
 
Partner Training: Business Plan Development
Partner Training: Business Plan DevelopmentPartner Training: Business Plan Development
Partner Training: Business Plan Development
 
Grassroots Marketing with an Edge
Grassroots Marketing with an EdgeGrassroots Marketing with an Edge
Grassroots Marketing with an Edge
 
Basic Financial Management for Small Businesses
Basic Financial Management for Small BusinessesBasic Financial Management for Small Businesses
Basic Financial Management for Small Businesses
 
Using & Updating Your Business Plan
Using & Updating Your Business PlanUsing & Updating Your Business Plan
Using & Updating Your Business Plan
 
Small Business 8a Certifications
Small Business 8a CertificationsSmall Business 8a Certifications
Small Business 8a Certifications
 
Must Have Small Business Website Features
Must Have Small Business Website Features Must Have Small Business Website Features
Must Have Small Business Website Features
 

Recently uploaded

Project File Report BBA 6th semester.pdf
Project File Report BBA 6th semester.pdfProject File Report BBA 6th semester.pdf
Project File Report BBA 6th semester.pdf
RajPriye
 
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraTata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Avirahi City Dholera
 
What are the main advantages of using HR recruiter services.pdf
What are the main advantages of using HR recruiter services.pdfWhat are the main advantages of using HR recruiter services.pdf
What are the main advantages of using HR recruiter services.pdf
HumanResourceDimensi1
 
BeMetals Presentation_May_22_2024 .pdf
BeMetals Presentation_May_22_2024   .pdfBeMetals Presentation_May_22_2024   .pdf
BeMetals Presentation_May_22_2024 .pdf
DerekIwanaka1
 
Unveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdfUnveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdf
Sam H
 
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
BBPMedia1
 
ENTREPRENEURSHIP TRAINING.ppt for graduating class (1).ppt
ENTREPRENEURSHIP TRAINING.ppt for graduating class (1).pptENTREPRENEURSHIP TRAINING.ppt for graduating class (1).ppt
ENTREPRENEURSHIP TRAINING.ppt for graduating class (1).ppt
zechu97
 
ikea_woodgreen_petscharity_cat-alogue_digital.pdf
ikea_woodgreen_petscharity_cat-alogue_digital.pdfikea_woodgreen_petscharity_cat-alogue_digital.pdf
ikea_woodgreen_petscharity_cat-alogue_digital.pdf
agatadrynko
 
20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf
tjcomstrang
 
Introduction to Amazon company 111111111111
Introduction to Amazon company 111111111111Introduction to Amazon company 111111111111
Introduction to Amazon company 111111111111
zoyaansari11365
 
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdfModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
fisherameliaisabella
 
amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05
marketing317746
 
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
BBPMedia1
 
Maksym Vyshnivetskyi: PMO Quality Management (UA)
Maksym Vyshnivetskyi: PMO Quality Management (UA)Maksym Vyshnivetskyi: PMO Quality Management (UA)
Maksym Vyshnivetskyi: PMO Quality Management (UA)
Lviv Startup Club
 
Meas_Dylan_DMBS_PB1_2024-05XX_Revised.pdf
Meas_Dylan_DMBS_PB1_2024-05XX_Revised.pdfMeas_Dylan_DMBS_PB1_2024-05XX_Revised.pdf
Meas_Dylan_DMBS_PB1_2024-05XX_Revised.pdf
dylandmeas
 
Memorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.pptMemorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.ppt
seri bangash
 
Skye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto AirportSkye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto Airport
marketingjdass
 
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdf
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdfSearch Disrupted Google’s Leaked Documents Rock the SEO World.pdf
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdf
Arihant Webtech Pvt. Ltd
 
What is the TDS Return Filing Due Date for FY 2024-25.pdf
What is the TDS Return Filing Due Date for FY 2024-25.pdfWhat is the TDS Return Filing Due Date for FY 2024-25.pdf
What is the TDS Return Filing Due Date for FY 2024-25.pdf
seoforlegalpillers
 
Kseniya Leshchenko: Shared development support service model as the way to ma...
Kseniya Leshchenko: Shared development support service model as the way to ma...Kseniya Leshchenko: Shared development support service model as the way to ma...
Kseniya Leshchenko: Shared development support service model as the way to ma...
Lviv Startup Club
 

Recently uploaded (20)

Project File Report BBA 6th semester.pdf
Project File Report BBA 6th semester.pdfProject File Report BBA 6th semester.pdf
Project File Report BBA 6th semester.pdf
 
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraTata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s Dholera
 
What are the main advantages of using HR recruiter services.pdf
What are the main advantages of using HR recruiter services.pdfWhat are the main advantages of using HR recruiter services.pdf
What are the main advantages of using HR recruiter services.pdf
 
BeMetals Presentation_May_22_2024 .pdf
BeMetals Presentation_May_22_2024   .pdfBeMetals Presentation_May_22_2024   .pdf
BeMetals Presentation_May_22_2024 .pdf
 
Unveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdfUnveiling the Secrets How Does Generative AI Work.pdf
Unveiling the Secrets How Does Generative AI Work.pdf
 
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...
 
ENTREPRENEURSHIP TRAINING.ppt for graduating class (1).ppt
ENTREPRENEURSHIP TRAINING.ppt for graduating class (1).pptENTREPRENEURSHIP TRAINING.ppt for graduating class (1).ppt
ENTREPRENEURSHIP TRAINING.ppt for graduating class (1).ppt
 
ikea_woodgreen_petscharity_cat-alogue_digital.pdf
ikea_woodgreen_petscharity_cat-alogue_digital.pdfikea_woodgreen_petscharity_cat-alogue_digital.pdf
ikea_woodgreen_petscharity_cat-alogue_digital.pdf
 
20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf20240425_ TJ Communications Credentials_compressed.pdf
20240425_ TJ Communications Credentials_compressed.pdf
 
Introduction to Amazon company 111111111111
Introduction to Amazon company 111111111111Introduction to Amazon company 111111111111
Introduction to Amazon company 111111111111
 
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdfModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
 
amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05amptalk_RecruitingDeck_english_2024.06.05
amptalk_RecruitingDeck_english_2024.06.05
 
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
 
Maksym Vyshnivetskyi: PMO Quality Management (UA)
Maksym Vyshnivetskyi: PMO Quality Management (UA)Maksym Vyshnivetskyi: PMO Quality Management (UA)
Maksym Vyshnivetskyi: PMO Quality Management (UA)
 
Meas_Dylan_DMBS_PB1_2024-05XX_Revised.pdf
Meas_Dylan_DMBS_PB1_2024-05XX_Revised.pdfMeas_Dylan_DMBS_PB1_2024-05XX_Revised.pdf
Meas_Dylan_DMBS_PB1_2024-05XX_Revised.pdf
 
Memorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.pptMemorandum Of Association Constitution of Company.ppt
Memorandum Of Association Constitution of Company.ppt
 
Skye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto AirportSkye Residences | Extended Stay Residences Near Toronto Airport
Skye Residences | Extended Stay Residences Near Toronto Airport
 
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdf
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdfSearch Disrupted Google’s Leaked Documents Rock the SEO World.pdf
Search Disrupted Google’s Leaked Documents Rock the SEO World.pdf
 
What is the TDS Return Filing Due Date for FY 2024-25.pdf
What is the TDS Return Filing Due Date for FY 2024-25.pdfWhat is the TDS Return Filing Due Date for FY 2024-25.pdf
What is the TDS Return Filing Due Date for FY 2024-25.pdf
 
Kseniya Leshchenko: Shared development support service model as the way to ma...
Kseniya Leshchenko: Shared development support service model as the way to ma...Kseniya Leshchenko: Shared development support service model as the way to ma...
Kseniya Leshchenko: Shared development support service model as the way to ma...
 

Top Reasons Small Businesses Fail

  • 1. Key Speaker Michael Miller Director of Business Development BizCentral USA Administrator Nicole Roach Marketing Coordinator HBIF Meeting 12-09 BizCentral USA
  • 2. • Introduction to the top reasons small businesses fail • The current state of entrepreneurs & small businesses • Characteristics that can make or break any entrepreneur • The top 5 reasons for small business failure & how to avoid those dire mistakes
  • 3. This Year I’m Going to…. Start a Business
  • 4. • Americans dream of owning their own business for variety of reasons:  Pride of ownership  Flexibility  Tax breaks  Prove people wrong  Personal development  Money
  • 5. Only 44% New 1/3 of of New 50% of Businesses go Businesses in Businesses do “Belly-up” not MakeYear the First upPast Survive it to theFour Years Second Year
  • 6. A Head for Business Confidence Goal Setter Desire for Responsibility Joe Entrepreneur Organization Good Money Skills Manager Competitive Risk Taker Nature
  • 7.
  • 8.
  • 9. • Build a Solid Capital Structure  Keep Strict Money Records  Set Aside Seed Money  Evaluate Want vs. Need
  • 10.
  • 11. • Consider location in regard to:  Customers  Suppliers  Employees  Government regulations. • The selected site SHOULD meet the business’ needs.
  • 12.
  • 13. • Learn how to market cost-effectively and time- effectively. • 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
  • 14.
  • 15. 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.
  • 16.
  • 17. YOU MUST HAVE A BUSINESS PLAN!