The real reason businesses fail to grow
According to data from the U.S. Bureau of Labor Statistics, about 20% of U.S. small businesses fail within the first year. By the end of their fifth year, roughly 50% have faltered.
You may have heard these statistics before, but you may not have understood why.
More often than not, small businesses don’t fail because they are undercapitalized.
They don’t fail because they don’t offer great services or products.
They usually fail, because the Founder gets in the way.
What do I mean by this?
Let’s say you decide to build a better mousetrap. You’re smart, you’re great at what you do, and you know you provide outstanding solutions to a problem in the marketplace.
Here’s the catch.
There’s one of you.
No matter what your “magic sauce” is, unless it is replicable and can be delivered by others, you’ll always hit a ceiling in your growth.
The solution? It starts with understanding that you don’t know what you don’t know. This has to be followed by doing things differently if you want different results.
For this Friday’s Free Gift, I have two goodies for you.
The first is an invitation for you to step into your leadership by allowing yourself to be a part of a different conversation.
For seven years, the leaders in our community have gathered annually to have a meaningful discussion on what it means to grow our organizations from a different perspective.
Not from a platform of competition, but from a consciously chosen platform of collaboration and contribution.
If you know what you’ve been doing is not working, AND you are clear that you are being called to grow your profits for purpose, you will want to join us.
There is no fee to attend, but you do need to register if you’d like to join us.
Today we have 30 seats left.
Please visit www.limitlesswomen.com/mastermind for details and to register. Let me know by replying to this email if you have questions about whether the event is right for you and we’ll jump on a personal call this week.
The second gift I have for you this week is one of my favorite TEDx talks on business.
Matt Teney’s short, direct message encapsulates one of the best secrets of successful leaders for all businesses – both large and small.
Please be kind to yourself this week and be in touch if I may support you in any way.
If we don’t connect, be well and I’ll “see” you here next Friday.