How to be a business success.

1. Be a SME success, not a statistic
Start up
phase
Brick wall
Reinvent or
die phase
(reoccurring)
Time
Proactive change
Die
Growth
Another brick
wall: they keep on
coming!
2. Be a success by tackling these 5 areas:
Less than 45% of UK businesses survive their 5th
birthday (‘Success In Challenging Ties - Key Lessons for UK SMES’, University of Surrey 2012).
If we are to learn lessons from over ‘The Pond’ according to Eric Wagner, writing for Forbes.com the top 5 reasons for business failure are:
#1 The business was not really in touch with customers through deep dialogue.
#2 The business did not have real differentiation in the market.
#3 The business failed to communicate a value proposition in a clear concise and compelling fashion.
#4 There was a breakdown in leadership.
#5 There was an inability to nail a profitable business model.
1. You are not alone:
gain comfort in the
fact that the path
ahead is difficult
for all SMEs.
Research into the life journey of
SME’s shows that they typically
follow a path similar to that
shown here. There is a road
map for the successful business
(and lessons from the less
successful ones).
© Nick Parker 2014