Consulting Solutions

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In the U.S. there are nearly a half a million new businesses started each month. For most starting a business is one of the cornerstones of the "American Dream." And while the startup seems glamorous, unfortunately business failure is a harsh reality. According to the Bureau of Labor Statistics 7 out of 10 businesses with employees fail within the first ten years. While 80% make it past the first year mark, the rate begins to drop off substantially each year thereafter. About two thirds are able to survive their second year. The fifth year just half, ten years out 30% or 3 out of 10 survive. 

The most common reason small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

According to Entrepreneur.com there will be a time when you and your business will face the need for outside consulting and help. It might be market information you need, or advice, skills, strategies and techniques that do not currently exist in your organization. Consultants can provide solutions for a huge range of business issues. 

In general, a business consultant works with you on strategy, planning and problem solving. They might help you develop a business skill that you do not possess. Typically small companies in the start-up phase can face challenges in terms of obtaining financing in order to bring a new product to market, fund an expansion, or cover marketing cost and payroll during a cash flow shortage. 

While angel investors, venture capitalists, and conventional bank loans are among the funding sources available to small businesses, not every company has the revenue stream or growth trajectory needed to secure major financing from them. And without an influx of funding for large projects or ongoing working capital needs, small businesses are forced to close their doors.

That's why the best time to talk to a consultant is before disaster strikes. At a minimum, every start-up should first include a comprehensive Business Plan with a well thought out marketing strategy and sufficient operating capital before the business opens the doors. 

Critical 3 C's of Business Start-Up's are: 1. Clients, 2. Customer Service and 3. Cashflow, one without the other two are a prescription for disaster.