Thorlackson Business Consulting
Main Office Phone: 218-279-1920 4899 Miller Trunk Highway Suite 206 Email:info@thorlackson.com
Fax: 866-593-0706 Hermantown, MN 55811
Why 80% of Small Businesses Fail
BALANCE
Keeping a balance between the Quality of your product and the Value you give your customers is critical. Once you have those, all you need is for people to know about you. Each of these topics are simple when looked at individually. It is when we try to keep all 3 in balance we start to see how hard it is to keep a business running.
MARKETING
Business owners are constantly bombarded with salesmen who "have the best plan to make them rich" and a busy owner doesn't have the time to look at everything. Understanding your market and your customer will help you to call the salesmen you want and to buy what you need, NOT to just buy from whoever is the cheapest. Remember, you get what you pay for.
TRACKING
If your business isn't tracking cost of goods or expenses on a very regular basis you will find yourself in trouble fast. 90% of the small businesses we work with have little to no tracking systems in place. There is a reason that larger businesses have massive tracking systems. There are many available for the small business as well.
Every business is different and needs to be treated that way. There is no magic plan that works for everyone. We specialize in making individual plans for each business. Our combined 50+ years of experience has allowed us to work with many different businesses. We encourage you to call and set up a free initial consultation.
These are a few of the reasons that businesses fail.
