Be a SME success.

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Information about Be a SME success.
Business & Mgmt

Published on March 18, 2014

Author: NJDP



How to be a business success.

Be a SME success, not a statistic Start up phase Brick wall Reinvent or die phase (reoccurring) Time Proactive change Die Growth Another brick wall: they keep on coming! 2. Be a success by tackling these 5 areas: Less than 45% of UK businesses survive their 5th birthday (‘Success In Challenging Ties - Key Lessons for UK SMES’, University of Surrey 2012). If we are to learn lessons from over ‘The Pond’ according to Eric Wagner, writing for the top 5 reasons for business failure are: #1 The business was not really in touch with customers through deep dialogue. #2 The business did not have real differentiation in the market. #3 The business failed to communicate a value proposition in a clear concise and compelling fashion. #4 There was a breakdown in leadership. #5 There was an inability to nail a profitable business model. 1. You are not alone: gain comfort in the fact that the path ahead is difficult for all SMEs. Research into the life journey of SME’s shows that they typically follow a path similar to that shown here. There is a road map for the successful business (and lessons from the less successful ones). © Nick Parker 2014

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