I periodically read research reports about business failures. I always find them interesting, although often they are depressing.
Such as what I recently read. Which was research from Bradley University in Peoria, IL. This research found that 70% to 80% of new businesses fail within their first year.
And while this was frustrating enough to read, the research further stated that half of those companies which do survive the first year will fail within the next four years.
Now, let's turn to the cause of this failure. According to Dun & Bradstreet, the number one cause of this failure is lack of business planning.
What this essentially means is this: entrepreneurs and business owners don't plan to fail; rather, they fail to plan (which causes them to fail).
In my view, there are two types of business plans. The first is the business plan you must create when you start your company. The purpose of this plan is to ensure you have fully thought through your venture.
This is it: 2013 is your year to set and achieve sales goals higher than you ever imagined. If you haven't taken a look at the key mindset shifts I describe in this article, you've been selling yourself short. Make the decision NOW to supercharge your sales results, starting this year.
This is a wonderful time to be alive and working in the profession of selling. Regardless of the ups and downs of the economy or temporary changes in your industry, there have never been more opportunities for you to achieve more of your goals-and enjoy a higher standard of living-than exist today by selling more of your products and services in the marketplace.
Step 1. Commit to Excellence
Ambitious people have one remarkable characteristic in sales. They dream big dreams. They have high aspirations. They see themselves as capable of being the best in their fields. They know that the top 20 percent of salespeople make 80 percent of the sales, and they are determined to be among that top group.
Step 2. Act As If It Were Impossible to Fail
Fear, uncertainty, and doubt are, and always have been, the greatest enemies of success and happiness. For this reason, top salespeople work continually to confront the fears that hold most salespeople back. The two major fears that stand as the greatest obstacle on your road to success are the fear of failure, or loss, and the fear of criticism, or rejection. These are the major enemies to be overcome.
Before you can build an exceptionally strong brand, you need to know why you’re in business. Not what you do, but why you do it. Your business’s ‘noble purpose,’ if you will. Articulating that mission is probably one of the most critical—and difficult—challenges in the branding process. And it’s a challenge for companies of any size and stage, not just for startups.
Without a clear articulation of your business mission, branding is just window dressing. If you’re like many business owners, though, you may find it difficult to separate yourself from your company’s brand. When you’ve been the driving force behind the company, it’s hard to take an objective, external view and see your brand, basically, as your customers see you. The following exercises may help you get started.
Now I need your view on this and only the best get Published! One of the things we do at PenexusConsulting is Business Plan reviews. With that I mean If you have already written your Business plan, we can provide an objective third party critique before you send it to investors. However I have seen
Making a memorable presentation/pitch goes beyond the fact that you have a big Idea that “no one has done before”. In fact your investors are more likely to think that if no one has done it before, then it is not worth trying out. So be ready to answer that question. However, today I want
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