I Hate My Job - Should I Quit To Start My Own Business?
Statistics tell us that about 80 percent of small businesses will go out of business the first year they’re in business. And of those that remain, 80 percent of them will not be in business 5 years from now. With figures like that, it’s easy to see that the failure rate of new businesses is staggering.
Make no mistake… those are alarming statistics!
Yet, even with those incredible numbers, people still quit secure and well-paying jobs or careers, hock everything they have, and take their dreams into the marketplace with little or no planning, and with little or no regard for the harshness and cruelty of what the marketplace can bring without proper planning.
Common sense coupled with the experience of what others have done in the past, should tell us that if a business is going to expect to succeed in today’s competitive marketplace, then that business is going to have to do a number of things right… or at least better, or perhaps, differently than most other businesses that have gone before them. And, when I refer to ‘businesses’ I’m including you and your business or career.
No longer is it possible for a business to maintain a competitive advantage for an extended period of time because of the products or services they offer, or the prices they charge.
The availability and affordability for many businesses to take advantage of cutting edge technology, low priced skilled labor, and more efficient delivery or distribution systems make it possible for an increasing number of businesses to enter and compete in the marketplace. This wasn’t the case just a few years ago.
Long term success in business is not dependent on the products the business sells or the prices it charges. Even if a business can offer a unique product or service, or perhaps even a lower price on similar products or services that are currently being offered, it won’t be long until the competition finds a way to duplicate (or at least pretty closely match) that business’s performance.
And that puts an end to the competitive advantage the original business held.
So if a business, or more specifically your business, can’t depend on your products, your services, or your prices for your competitive advantage, if you expect to just even survive… let alone thrive in your business… no matter what products or services you sell, your business is going to have to perform exceptional in a number of areas to overcome the concerns regarding the economy. And by nature any business is at risk of losing profits quickly if the proper marketing strategies are not in place.
Unfortunately, most people who take their dreams and hard earned life savings into the marketplace in the form of small businesses are not even aware of some of the most important factors that contribute to, and can even ensure their success.
Contrary to popular belief and what management experts may have told you, building or growing a business… creating a successful and profitable enterprise that commands a dominating position in the marketplace doesn’t automatically require hard work, long hours, frustration, and enormous monetary costs.
There’s no question, and you probably won’t get much debate, that with the number of new and established businesses in the U.S., you face stiffer competition… even cutthroat competition more than ever before. Now, add in the fact that your customers are better educated, more sophisticated, and not nearly as loyal as they once were, and the problem magnifies. Add it all up, and you’ve got a real dilemma.
Never before has the proper strategic marketing been more important to have in place. As the year comes to a close, utilize this time to refocus, reenergize and rethink your marketing strategy and you better have numerous strategies that you are ready to implement immediately or stay at your current job until you have done your homework.
Copyright 2007 ProfitsMakeOver, Inc. All Rights Reserved
Gail M. Barsky, ProfitsMakeOver, Inc. works primarily with small to medium size businesses. Gail’s proven system helps business owners’ increase: the size of customer transactions, profit margins, the frequency of purchases, number of years customers do business with you, referrals and boost conversion rates.
Gail works only with a handful of personal clients. Her results have been impressive and have earned her substantial recognition and notoriety. Gail frequently offers “Breakthrough Business Development Seminars & Workshops.”
Gail M. Barsky, Esquire offers a FREE 20 Minute Business Strategy Session Call to interested business owners. Schedule your FREE one on one call with Gail Barsky, personally at http://www.profitsmakeover.com and click on the link marked FREE Strategy Call.
Tags: employment, small business, strategic planning
