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Most small businesses fail

26 Dec

I’ve read countless reports showing most fail within the first year. Of those that survive one year, most fail within five years. The statistics are disheartening. Yet, my business is going on nine years and I’m no Einstein. Most businesses providing you goods and services started as small businesses. They overcame the odds.

You have to overcome the odds too. You have to be ready to:

• Trade personal time for business development time. This includes turning off the TV at night and working on your business.

• Objectively measure your time. If you work 9:00-5:00, get home by 6:00, and finish dinner by 7:00, schedule time every evening for business development. This may involve a serious discussion with your family. Tell them you are building a business and need to devote significant time and energy into it. They will probably understand if you are honest and open in advance.

• Be cheap in your personal life. Postpone your upcoming vacation, large-screen TV purchase, and new car. Sell your boat, unless your business requires a boat for its day-to-day operations. Spend this money instead on tools, training, and marketing for your business.

I’ve seen successful businesses and I’ve seen downright failures. I believe I can walk into a business, talk with staffers and within 30 minutes, tell you if the business is successful. I don’t need to read the financials or talk to their competitors. Staff already knows.

*****

Mark Anthony Germanos is the author of two books, Escape the Cubicle: How to leave your corporate or government job for something better and How to Make Computer Systems Work for You. He has faith in a slow but sure Sacramento business revival. Sacramento small business owners are leading the way. His second book, Escape the Cubicle, is for those who want to escape cubicle jobs and become successfully self-employed. Escape the Cubicle answers the questions: "How can I grow my business" and "How do I become my own boss."

Mark is the President of Cameron Park Computer Services. As a business owner and computer networking consultant, he has seen habits that successful Sacramento small business owners embrace. He helps Sacramento small business owners embrace those habits to increase their profits, efficiency and happiness. An advocate of Sacramento business revival, Mark believes everybody should run their lives like a small business, perform SWOT Analyses and use social media campaigns to improve business. He used to say “social media is stupid.” That was until he attended a conference and saw how Sacramento small business owners can use social media campaigns as a valuable tool. Since then, he has earned more than $40,000 in business via social media. His Sacramento small business clients also have five-figure returns. Sacramento small business owners that launch social media campaigns give themselves a comparative advantage over those who lag behind. Mark does not do everything, but his clients do receive great results and participate in the Sacramento business revival when they follow his advice.

Mark moved from Chicago and restarted his business in California with a cell phone and a Honda Civic. An active triathlete, he has a life, a dream wife and a dog. For additional details, visit http://markanthonygermanos.com. Twitter: http://twitter.com/markgermanos. Facebook: http://facebook.com/markanthonygermanos. LinkedIn: http://www.linkedin.com/in/markgermanos.

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