Dewell Marketing

Small businesses in the United States account for a little more than half of the nation’s private sector workforce. Yet far too few small business owners even consider hiring a third party to help them organize and manage their business outside of day-to-day operations. With more than fifty percent of small businesses failing every year, it is critical that Mom and Pop owners begin rethinking their attitudes toward business strategy consulting if they hope to survive.

In 2008, US statistics showed that a little more than six-hundred thousand new business were started. Over five-hundred and ninety-five thousand closed their doors and more than forty-three thousand filed for bankruptcy protection. Approximately 70% of new employing businesses survive for two years, while only 50% are able to stay afloat for the first five years of operations. These startling, statistics speak for themselves.

By the time a business closes its doors or files for bankruptcy, they have already weathered periods where they could have done something to stop the bleeding, like business software implementation. But far too often a small business owner ends up working around the clock to try to make things work. Many spend sleepless nights worrying about their failing dream, but only very few actually seek third party intervention to save their business.

For more than a decade she was successful enough to gross into the high six figure range every year. She spent her draw on a million dollar house, bought into vacation clubs and took exotic vacations every year with her family. After a dozen or so years, Meg was exhausted. Her goal starting out was to build up the business and sell it for a profit. Even though she had invested wisely in real estate, she never invested in a sound branding strategy. Her operational plan was non-existent and even after fifteen years she had no clue what her business was worth or what her annual revenue at any location was without researching it. Poor Meg!

When she tried to sell the business there were no takers. No offers came in even though the entire package included expensive equipment, real estate and an established central commissary setup. Carol couldn’t figure out what went wrong. Now in her mid-fifties, she was tired and physically depleted. In fact, she was working harder than ever just to keep the business running.

Carol never stopped to consider building a strategy to help her reach her original goal of ‘working less’ and ‘retiring early’. Somewhere in between her tactical applications and her lack of a sound strategy she managed to create a small collection of spin-offs to her original concept.

When selling coffee wasn’t enough she sold hamburgers. When people tired of hamburgers she sold hot dogs. And so on and so on. Her operational tactics were based on sheer survival and her lack of education, experience, branding and strategy left her vulnerable to unnecessary liabilities and a never ending stream of physical labor.

Meg’s new sister-in-law could identify in minutes what Meg wouldn’t see in years. Any business strategy consulting professional would have seen the same thing. Unfortunately Meg never figured out the most important part of her business was how developing a strategy and sticking to it would help her retire early. Meg’s still working. Her brother and his wife have retired wealthy.

Business and Management Consulting Austin