We are great believers in being true to who you are and doing what you do well. We all have skills and strengths that shine brightly and, unsurprisingly, this is what we base a new business around. For the team at Marketing StartUps, we are lucky to have a diverse skill set both in respect of Marketing and the digital realm. Additionally, all three of us run other successful businesses, from commercial enterprises through to other CICs that are also helping the local business communities.
However, when you are starting a business or launching a social enterprise, you often don’t have all the skills you need or all the staff you would like. There are many hard lessons learnt in the first few years of running a business; all of which can have a devastating effect on both the balance sheet and a person’s mental health. An article from in The Telegraph early this year stated the 600k business are registered each year. That is only the registered! Can you imagine the number of sole-traders / self-employed not included in that number
“It’s a less-talked-about fact that 60 per cent of those new businesses will go-under within three years, and 20 per cent will close their doors within just 12 months.”
There are, of course, many reasons why businesses fail, including cash flow, bad debt, bad decisions, lack of market knowledge, not passing the “sniff test” that would be the less public version of the Dragon’s Den. Often we ask family and friends, who let’s face it may not have the heart to say it is a bad idea. Unless you have Tabitha for a friend, she is well known for being blunt and pointing out a bad idea when she spots one. Even a good idea for a product or service can fail. Often because of lack of knowledge on how to get it in front of the right people, no one can buy something they don’t know about. That is where Marketing Startups can help. We provide the “sniff test”. We can also help you find your customers and we are more than happy to share our knowledge and experiences. By doing this we’ve found that we’ve been able to prevent people making the same mistake we have either made or seen others make.