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Why Businesses Fail

September 25, 2017

 

 

Not to put too fine a point on it, businesses fail because they run out of cash or the founder gives up. However, the cracks in the foundation start long before that happens. Here’s the top 3 problems that ultimately lead your company to failure.

 

1. Not being in touch with your customer

In order to have real proof of concept, you need to have real relationships with your ideal clients. This is about having conversations—deep ones. Your customers’ values, their pain points and their desires hold the key to your company’s success.

 

2. Neglecting to differentiate your company in the marketplace

This one will kill you softly and slowly. Call it your Unique Value Proposition, USP or any other jargon of your choosing but, if you aren’t different, you might as well not show up at all. Why? Because your company is already invisible, blending in with the rest of your industry. If you find yourself competing on price, that is a clear indicator that your customers don’t see you as any different than the cheapest option out there. 

 

3. Failure to communicate in a clear, concise and compelling way

There’s no bouncing back from this one. Your product or service will die on the vine if the marketing rambles on, muddying the waters and scatter their attention. The 3 “c’s” approach (clear, concise, and compelling) applies to all communication, from the company’s website to the elevator pitch, to the social posts and videos. 

 

Ready to tackle these issues head on? Check out my Brand In A Box packages, specifically designed to solve these problems and get your brand in order. Call me to discuss which package is right for you and your business. 

 

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