In the 4 years leading up to June 2011 close to 800,000 Small Businesses closed, that is over 40% of small businesses.
The Government study also found that only 60 percent of small businesses were profitable, with their average income of small business owners close to 10% less than the average employee's wage.
Over the same time period, big business fared much better, with nearly 75% of big businesses surviving the GFC period, and 75% being profitable.
Why are small businesses failing?
Most small businesses owners start out as entrepreneurs, this however is limited to a fleeting moment. It was going to be them against the world, soaring to new heights, they quit their jobs and seize the day. Only to find the next day that they are terrified of heights.
Many small Business owners make one very crucial mistake. That mistake is believing that the skills required to be a great technician in the previous role would be the same skill-set required to run a business doing the exact same thing.
These are two very different roles. You can no longer just be the expert technician, you need to be over marketing, sales, production, compliance, to name a few and you now need to be a leader.
You also don’t know what you don’t know. Running your own small business can be a very lonely existence and most people you can call on for advice have not got the experience you need to give you the right answer.
Why is Big Business More Successful?
Big Business have a much larger talent pool working within the business to handle most problems that arise.
A board of directors allows them to combine their wealth of experience to tackle most problems that come their way.
There have people constantly working on the business not in it, creating systems, procedures and testing, before implementing what works across the organisation.
They also have systems in place to keep you accountable (or your fired)
Mentoring is commonplace, everyone learning of each other and picking up skills
It is much easier to stay motivated within a team. Victories are celebrated
Success Teams have leveled the playing field!
Success Teams are the ultimate business building group. Success Teams are built by like minded business owners who are passionate about achieving success and growing their business.
A System to leave no stone unturned - "Business Spotlight" whether it be marketing, systems, legal or financial they are all covered. Business spotlight is where the group decides what area to put the spotlight on and all members get to discuss what works and what doesn't. To share their unique experience with the group. The best system to review every area of your business.
Stay Motivated - being a member of a Success Team is like having your own personal cheer team. Each member over time will have their turn on being the Mind Master of the day. With plenty of resources on the website team members can motivate each other to create a success mindset.
Find a Mentor - Success Teams gives you a chance to find a mentor that will drive you to a higher level. Most successful people love to share their knowledge on how they got there and what you can do to achieve success.
Be held Accountable - Each meeting club members announce to the group their number 1 goal to achieve for the week. The following week every member is held accountable in a friendly supportive environment. Success teams don’t let excuses get in the way, if you haven't managed to achieve your goals for the week the team will work with you at removing the roadblocks.
Your Own Board of Directors - each member that joins will join with their own unique skillset. Many members will have experienced and overcome many of the challenges that you currently face. Members are encouraged to share with the group their own unique experience and how they overcome roadblocks. By each member sharing all boats in the harbour will effectively rise together with the tide.
Other Benefits of joining a Success Team
The Agenda is designed to get the most out of your time and help you to build your business.
Some of the most successful people in the world are great communicators. By joining your success team you will improve your communication and leadership skills significantly.
To be successful you must have a success mindset. The program is designed to help you work on your inner world principles to create real world success. (This is the key)
Members get access to resources to enable you to review every area of your business over time.
Success is not achieved by doing something once or once in a while. Success is only achieved by doing what you need to do every single day; it has to become your daily habit.