A critical mistake often made by a business start-up is getting advice from the wrong resources. Business start-ups are already at a disadvantage out of the gate as these statistics show:
- 9% of the population owns a business.
- 7 out of 10 business start-ups never reach their year 2 anniversary.
- 51% of the remaining 3 will still be in business after 5 years.
- 5% of the remaining 1.5% have annual revenue more than $1,000,000
How do you become .08% of business start-ups that can fetch more than $1,000,000 purchase price in the end?
Get the right information right from the start!!! Don’t just ask those people that you know who are in business for advice with your business start-up. Most of them are struggling with their own challenges and don’t really know how they got to where they are right now!
As a business start-up, or at any other stage of business growth, there is only one question that you need to ask for business success…
What do I need to do so that my business will run without me?
That is, how do I create business self-sustainability! That is the mission of DE, Inc. and this blog to teach you what you need to do to make sure that your start-up business is able to run without you so that you can have the independence and financial freedom that you seek. Just click the link to download our FREE DIY Growth Guide to start doing the right things from day one.
Here are some articles you may find helpful which are specific to business start-up and the first stage of the business growth cycle.
Why an Entrepreneur Mindset is Important
As I reflect on what separate the successful business owners from all the others it's clearly one key thing - an entrepreneur mindset. No matter what the problem small business owners face, in crisis or [...]
Do You Think Like a Small Business Owner or Entrepreneur?
The Employee Scenarios Defined Several events recently occurred with client businesses that made me take a step back and really try to understand a why small business owner makes some of the decisions that they [...]
Build a Successful Business by Asking the Right Question
To build a successful business is easier than most people think. You just need to ask the right question that lead you there in the most direct way possible Tonight I’ll be meeting a bunch […]
Building Your Sales Plan Doesn’t Have to be Rocket Science
4 Questions for Building a Powerful Sales Plan Ok, so last week I looked at 2 Things That Keep You Out of a Sales Crisis. This week let’s look at how a sales plan can […]
Inventor vs Entrepreneur: Transitioning to Turn Your Vision into Reality
Inventor vs entrepreneur is a topic I was asked to revisit for an upcoming presentation. Back in 2010 I gave the same presentation to the Tampa Bay Inventors Council and it was well received. Not […]
4 Things to Build a Great Operation in the Foundation Stage
This week let’s get back to looking at the strategic objectives within each business function as you move your business along the growth model. So, far we’ve looked at marketing and sales. Now let’s see […]
Listening – The Best Marketing for Startups
Marketing for startups is often difficult because small business owners don’t understand the difference between sales and marketing. (see my previous post Sales Slump? Do You Have the Right Resource Assigned?). Marketing for startups is […]
Selling for Startups – 3 Critical Questions Every Business Must Answer
If you’ve been following along on our blog then you are already familiar with the business growth cycle. This week we want to begin looking functionally at what you should be doing within each phase […]
2 Things You Can Do to Accelerate Startup Growth
So, you want to accelerate startup growth. A while back I wrote an article title 4 Key to Creating a Profitable Business. It covered the objectives critical for startup companies to get out of the […]
Build an Asset NOT Just a Job – Entrepreneurship
Do you work your business like a job for a paycheck or do you build an asset which will generate wealth like an on-going annuity for you and your family? This is what keeps small business ownership […]
How to Have Success – Getting Out of Your Own Way!
Recent activity in my consulting business has revolved around a number of start-up companies. It has made me revisit the foundation of the small business growth cycle once again. One of the observation I that […]
4 Keys to Creating a Profitable Business
We’ve all heard the statistics: 7 out of 10 new employer firms survive at least two years, and about half survive five years. According to the SBA statistic reported by SCORE in 2008 there were […]
Is Your Startup Focused on the Right Objectives?
Lately I have been involved with a number of startup businesses, including a couple of my own. One observation I have made is that many small business startup owners tend to focus later stages objectives […]
Marketing on a Shoestring
When I was first asked to participate on this panel, I thought, “WOW things really have come full circle!” You see, I started my business back in 1991 on a shoestring. I had no marketing experience […]