Updated: Mar 29
History has shown that most businesses fail before they are well established. Through timely data driven insights and actionable information, you can avoid the same fate, and enhance your business to achieve long term success.
Statistics from recent studies reveal that over 70% of start-ups fail in their first year, with investors often suffering great financial loss. To worsen matters, the COVID-19 pandemic has created turmoil across the globe. All indications are that in the current global economic climate, new businesses have less than 30% chance of making it to the 5-year mark.
Startup post-mortems performed recently established that the most common reason for business failure was that there was no need in the market for their product or service to begin with. Other causes that scored high on the rating scale included a lack of capital, the wrong team makeup, more agile competitors and pricing or cost issues.
The causes of business failure are mostly preventable when day-to-day operations are proactively managed, and reviews of the business are continuous. This does not necessitate ERP systems and reams of accountants. Sometimes all that is required is a factual review of the organization across its domains, and then by taking some simple steps the benefits can often lead to a surprising upside. A health check of your business is a great point of departure to determine where the gaps are. The resulting assessment can assist you to prioritize the solutions needed in all facets of your business to help you avoid any pitfalls and instead, exploit growth opportunities.
You might wonder how to assess your business or where to next?
First prize would be to source the right solutions partner to perform the assessment with you, a party who can also offer you a suite of tailored solutions aligned to your unique requirements, and who will work with you on your journey.
The Growth Accelerators service offering encompasses an assessment across the length and breadth of your business, allowing for immediate insights as to where there are opportunities for improvement and growth. The assessments can take as little as 1 day to complete and will provide you with actionable insights and a road-map towards the heightened success of your business. We will work with you to address any gaps, add to your strengths, increase your company’s chances of success, growth, and actual value over a defined period.
Get in touch, we look forward to connecting with you and help you re-imagine your business: