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Why Do Small Businesses Close? – No Planning

In yesterday's post we looked at the three things that the Australian Securities and Investment Commission considered to be the main reasons why small businesses do not succeed in an all too vast number of cases. In that post I talked about in one of the reasons being that many small businesses don't maintain adequate or sometimes any records at all. Today I intend to look at the second reason why so many businesses fail to last very long. That reason is that they don't have any sort of plan. It is all too easy to jump up out of bed one morning and decide to go on a business. To put it bluntly it just doesn't happen that way. Your football team doesn't go on the pitch without hearing a game plan and the captain of the ship always Read More

Why Do Small Businesses Close? No Records

It is an unfortunate fact that only two, or maybe three, out of every hundred new businesses that are launched manage to stay in business  very long at all. Even more unfortunate is the fact that probably four out of every five new businesses file within the first two years. With statistics like this one has to ask and question why does it happen? There are many reasons put forward as to why such an enormously high percentage of new businesses fail and fail so quickly. Some of these reasons include external forces such as the economy, government activity and changes to laws, or activity by the banks in extending or withdrawing credit. But these are external forces and not really the major ones that we need to consider. According to the Australian corporate watchdog (the Australian Securities & Investment Read More

You Can Succeed In Business – Even With A Handicap

Seeing as today is Sunday where I am, I thought long and hard about what kind of post I would prepare for today. After much thought, I decided that I would make my Sunday posts ones that are motivating. Not only for business owners but for everyone. In this short video, see how this young lady does everything you and I might do. But with an extreme handicap. Not only is she a wife and mother, but she also runs her own successful small business. I can only applaud this young woman. I learned so much from her about just never giving up. About always having a positive outlook on life. Read More