So why do so many companies fail?

The stats are not good; over 1,300 businesses go into some form of dissolution EVERY DAY in the UK.

I’m a business coach and in my view this doesn’t need to happen, at least to the level reported. The impact on people is horrible; the owners, their employees, their families, their customers and suppliers…….the list goes on.

Not to mention the emotional impact.

The real question is why do businesses fail on this scale and to those that do survive the stats on their growth rates is really poor. Only 4% who survive go on to develop their business to the £1m turnover level.

I know stats are boring so let’s list WHY these statistics are so chronic.

In my experience as a business coach and business growth expert I’d list the following key reasons:

  • No Vision
  • No Mission
  • Poor Culture
  • No Goals
  • No Strategies
  • No Execution

These ALL need to be written out in a clear and concise way and shared with the team.

Team disengagement is another horror statistic…..only 14% of employees are “engaged”.

On a more “general” theme:

  • Lack of planning
  • Lack of leadership and management
  • Lack of an optimised and balanced team
  • Lack of focus
  • Distraction
  • Entitlement mind set
  • Lack of energy
  • Lack of momentum

……the list goes on!

So, if you want to take real ownership for your business and its sustainable success please reflect on these points. And if you want to have a complimentary 1 to 1 session with me, give me a call.

These levels of failure don’t need to be this way.