Question: Why are 50% of businesses not around to celebrate their 5th anniversary?
As a business owner, this is the million dollar question you have to ask yourself if you want to be around years from now.
The most common answer to the question of a business’s failure is usually very simple: it wasn’t making enough money.
Right now, 82% of businesses FAIL due to lack of cash flow management and not understanding cash flow at all.
Any time one issue is single handedly forcing businesses to shut down, it means that we have to start taking it seriously.
And the problem is, it’s so deceptively simple that it’s easy to overlook.
It doesn’t take a rocket scientist to figure out that cash is vital to the success and growth of any business; but somehow, many business owners have been seduced into focusing on other things.
From customer avatars and marketing to blogs and websites, business owners aren’t spending enough time focused intently on revenue.
In fact, most business owners don’t even know the difference between working on the business and working on the revenue.
And it’s a subtle distinction that is costing a lot of people a lot of money.
For those of us small business owners commanding our own enterprises, tunnel-visioning our way past a concrete business strategy with a specific revenue plan won’t do.
And, it just doesn’t work.
It’s time to get hands-on with the ins and outs of what ignites our success instead of relying on the teachings of business “gurus” who neglect the very life blood of the business you run.
Let’s dive into cash flow and revenue models so that our businesses can ultimately become the new staples of a new generation.