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Why Most Small Businesses Fail Within 5 Years

Business Plans Help You Succeed

Through all my years in business advising small business owners, I constantly watch for trends and statistics affecting small businesses. One of the most consistent statistics I always see whenever I check for the latest trend is the statistics that 8 out of 10 startup small businesses fail within the first 5 years.

That’s such a consistent statistics through the years that there must be something behind it. Surely 80% of small business owners can’t possibly be poor business people?

The truth is highlighted if you look at the statistics behind successful small businesses. Eighty per cent of successful small business owners say that they are successful because they follow a Business Plan.

I’ve written a comprehensive eBook about Business Planning, and I’ve put my experience and thoughts about why such a large proportion of small businesses fail into this video: –

 

 

So, if you don’t have a Business Plan, what’s stopping you?

If you haven’t prepared one because you’re not sure if it will help you, let me ask you – on a scale of 1 to 10 where “1” is “struggling” and “10” is “wildly successful” where are you in your business?

If you are any less than 8, and every day you feel that you are working hard but not getting to your goals, if every day you have to make decisions about what opportunity to take next, then perhaps you really need to take heed of the statistics!

If you’re worried you don’t have the time, let me tell you that you don’t have to write a lot of big chapters – your most effective Business Plan can be written in one day as long as you go through a process of thinking and record your thoughts in a way that makes sense to you and is easy to follow.

If you think that you don’t know how to start, well I’m here for you!

I’ve put together a free, comprehensive eBook all about Business Plans, called “How To Plan The Best Future For Your Business”.

In it, I show you what a Business Plan can do for your business. I take you through the different types and formats – and which one is right for you. I will explain the best process, using my SMART Business Planning Formula, to logically work out where you want to go, where you are now, and how to bridge the gap.

In this free eBook, I’ll even take you through the best way to implement your plan.

So get the eBook “How To Plan The Best Future For Your Business” by clicking here.

If you’re not already subscribed, you should go to my website teikoh.com and sign up to get my free weekly video newsletter offering valuable free resources that you can use to grow your business – and because I hate spam as much as you, I promise never to give your details to anyone else, ever!

Also, if you want to stay in regular touch, go and follow my Facebook Page here. Keep an eye out for my regular Facebook Live sessions where I take a deep dive into my blog topics.

See you there!

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