Common Business Frustrations
- Small businesses fail at a discouraging rate: 57% fail in their first year; 80% are gone after five years.
- Most small business owners work too hard and receive too little reward.
- Most businesses are in chaos. They lack a way of doing business that works.
- For most business owners, their businesses don't serve their lives; their businesses consume their lives.
- Most small business owners don't have a personal life plan that purposefully guides their daily actions.
- Most small business owners don't understand that they can and should create a business that works without them.
- Most small business owners perform too many functions (wear too many hats), and have no plan for freeing themselves from the technical work of their businesses.
- Most small businesses don't have a system for recruiting, hiring and training effective people.
- Nearly all small businesses are organized around the existing people, rather than business processes. This leads to inconsistent performance and creates havoc when someone leaves.
- Most small business owners blame poor results on their people.
- Not feeling they can depend on their employees, most small business owners feel trapped in the business.
- There is usually confusion within organizations about who reports to whom. Accountabilities in small businesses often overlap and are unclear, which adds to the confusion.
- Most small businesses don't produce consistent, predictable results.
- Most small business owners don't know who their most probable consumer is.
- They don't know how to identify and appeal to the emotional needs of their consumers.
- They don't examine the impact that their entire business process has on their customers.
- They market and sell "by the seat of their pants" rather than by applying proven marketing and selling strategies.
- Most business owners believe extraordinary people are the key to a successful business.
- Most small business owners don't realize that in the best businesses, systems run the business and ordinary people run the systems.
- Most people don't view business in a holistic way, as an integrated set of systems that interact with each other.
- Most small business owners don't use quantification to measure effectiveness, and documentation to ensure predictability.