You might have heard that scary statistic that 20% of small businesses fail in their first year. 50% fail by their fifth year. Why is that? And how do you as a small business owner stay out of those statistics?
Most businesses fail in their first year due to things like:
- They never define a true mission or value for their company
- They don't create a true business plan - which include goals, possible problems and solutions to those problems before they arise
- They have too little of financing - costs will arise all over the place as you start out and finances are the major thing you want to have a plan for to be prepared
- No systems in place for internal and external communication - meaning your employees and your consumers
- Poor leadership
- Not developing a culture for your business
Business Dynamics has created online programs that will help you not only learn how to avoid all that was mentioned above but do all the things it takes to have a thriving, successful business.
Each online program includes the following:
- A consultation with Shelby Hammond - your business coach
- Access to an 8 week long course designed to help you at the stage your business is at
- Assignments and material for each week
If you have been in business for 1-2 years and you still have not developed a mission statement for your business or even learned the proper ways to attract consumers and how to best work with those consumers, you may want to look more into Program 1: Entrepreneur Basics.
If you have been in business for a couple years but find yourself with high employee turnover, not a great funnel of word of mouth referrals, or if you have not cultivated a strong business culture that is present right when someone walks through the doors, you may need to look into Program 2: Strong Business Culture
What is a business Culture you might ask?
Business Culture: The beliefs and behaviors that determine how a company's employees and management interact and handle transactions outside the business. This is often implied, not expressly defined.
You have an appointment for a massage at a pedicure. You walk in and are greeted promptly as you walk through the door in a quiet voice. They check your name and ask if you have never been in before. You reply no and are given a quick tour to know where the restrooms, the massage rooms and possible exits are and are offered a glass of water and a neck warmer as you fill out your intake information.
When you are taken back by the massage therapist, all information that involves your massage are discussed behind closed doors. You are asked what type of pressure you are comfortable with, to dress down to your comfortability and given any other options or choices for comfort.
After the massage, the gal at the front desk asks how your massage went and asks if there was anything that could have been done better. She then gives you a quick run down of their referral program and books you for your next appointment.
What is the culture here? What are some things you can identify? Clearly the company cares about the customer. The employees know what they are suppose to do and with that, they feel empowered - that empowerment is passed off onto the customer which creates a pleasant experience. There is also opportunity for feedback from the customer at the end which also identifies that the company has a culture that can expand to be even better!
If you are not sure which class might be for you, contact Shelby Hammond for more information and she will gladly walk through the pains you are experiencing and give you a more prescribed solution!