The first five years of opening and starting a business are the most precarious, and 77-80% of businesses fail within that time. No one starts a business with the intention of closing in just a few years; no one invests countless hours in a business that may not fully fleshed out and headed for success.
Posts by bethbowling:
The hiring process is stressful, any business leader will tell you. It’s not simply finding candidates with the right education and experience, they have to fit into your present ‘family’ of employees smoothly. Adding new employees to your workforce is tricky and requires more time than just about any aspect of operating a business.
More Than Great Products: A Journey to Product/Market Fit
We all want to be the first to introduce a new product to the market. We dream of being the creative genius that brings the next best thing to market and makes a fortune. But lightbulb moments come and go, and if they don’t fit into today’s consumer needs like a puzzle piece, they’re worthless.
Business Development Strategy: A High-Growth Approach
You hear them everywhere, acronyms and job titles that make you wonder what they’re talking about and what they do. When janitors are called Custodial Engineers, business meetings are filled with jumbles of letters you aren’t quite sure how to decipher, and sales, marketing and business development no longer mean what they did twenty years ago, it gets to be too much.
We learn as we become responsible adults that the important things in life need regular care and maintenance. We see our doctor for a yearly exam to make sure our body is fit and running well, we take our cars into the garage every year for a bumper-to-bumper inspection to keep us driving safely on the road, and even the small but precious things such as that engagement ring gets a yearly cleaning and checkup to make sure there’s no wear and tear that might compromise the expensive stones. It’s smart to be proactive in the care and maintenance of the things we value most, and our business health should be right there at the top of that list.