“If you fail to plan, you are planning to fail!” - Benjamin Franklin
According to the Bureau of Labor Statistics,
50% of small businesses FAIL in their 5th year while
70% FAIL in their 10th year.
Do you have the proper system in place to prevent that from happening to your business?
WHY DO BUSINESS FAIL?
Businesses fail for three principal reasons:
1. Customers don’t want the product or service. This is often due to poor marketing or lack of a good sales process.
2. The business owner is unskilled or becomes uninterested in the business. Often this is caused by the owner being overwhelmed trying to develop skills that they have no desire to learn and are outside of their area of expertise.
3. The business simply runs out of cash. This is due to a lack of financial expertise as the business grows.
Small businesses, led by one person, with revenue up to one million dollars annually often remains viable on the strength of the owner alone. That owner is the CEO or Chief EVERYTHING Officer. Businesses with annual revenue greater than twenty million have achieved a “critical mass” and barring an unusual event, generally remain viable for many years.
Why do businesses often fail to successfully grow between one million and twenty million dollars in revenue? How does a business protect itself from the three principal reasons businesses fail?
Excelsure Consulting provides expertise in business, tax, financial management, operational excellence, marketing, and technology. Excelsure provides C-Suite expertise as your business traverses from the one million to the twenty-million-dollar revenue threshold. Excelsure does it at a fraction of the cost of hiring a C-Suite full of executives.
Regardless of what stage you’re at in your business life cycle, we are your Advisors and Trusted Partners who can assist with:
- starting a business,
- growing towards profitability,
- strategic improvements,
- maintaining stable growth,
- acquiring other companies to grow further,
- planning for business exit,
- achieving the maximum value for your business, and
finding a qualified buyer.
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