Systems, the key to growing your business!
Rob King, director of Small Business at Intuit Canada says, “The fact is, 15 per cent of new startups fail in year one, while 50 per cent won’t see the end of year five. That’s a high failure rate when you consider 98 per cent of Canadians work in small business.”
So have you ever wondered why the failure rate of small businesses is so high? I believe the answer is rooted in something my mentor taught me. Every business must manouver through six (6) six stages of growth if they are to be successful.
- Normal operations
Each stage of business growth presents a primary CHALLENGE and each challenge requires a primary SOLUTION. Your success rate will depend on how you manage each stage of your business.
I believe the high failure rate of small businesses occurs during stage three. Choas is a necessary stage of your business. During this phase your business is growing, and highly likely it has outgrown the founder-visionary. The solution must be to systemize for growth and efficiency. We have developed three (3) systems to help you achieve success for you and your family.