THB Prime - The Pain

Have you ever felt...

  • You're working too hard and too many hours, or
  • Your business isn't growing fast enough, or
  • You're not making enough money, or even
  • Business isn't as fun as it used to be?

If so, don't worry. You're not alone.

Business is hard. And for the owner of a small business it can be lonely.

It's hard whether you're just starting out, or have an established business. Just consider these facts:

Starting out in business

According to reserach more than half of new businesses don't survive beyond 5 years. Here are some of the reasons for such high failure rates:

  • An inability to build a profitable business model with proven revenue streams
  • Failure to create and communicate value propositions in a clear, concise and compelling way
  • No real differentiation in the market,which means competing on price
  • Emotional pricing - a lack of understanding of pricing strategy; reacting to gut feel amd emotion rather than the facts
  • Not really in touch with customers and a lack of understading of the market
  • Lack of business and strategic planning
  • Rapid expansion leading to 'over-trading' and running out of cash
  • A lack of systems
  • Poor sales and marketing processes

It doesn't get any easier after 5 years... just a new set of problems.

The established business

Businesses that have been established for 5 or more years have typically gone through an initial high growth phase, but then they start to satgnate. Some of the common problems we find include:

  • Constant cash flow issues due to the demans of high overheads and working capital needs,
  • Slow growth - or even declining sales,
  • Downward pressure on price and margins,
  • The business owner working too hard, and
  • Consistently falling short of profit targets.