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Arnold Group, LLC

State St. Blackwood NJ, 08012 | (856)520-1188

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$u$tainability
Posted on:Monday, September 22, 2014



Everyone going into business thinks they have it, but do they? It takes more than just cash flow to make it through the rough times; there's physical and mental endurance also. These first few years I call the'Trap'. And for good reason, if you can make it through the first five years, you are considered on your way to freedom. Some would make those years shorter, but that is a mislead. Statistics prove (over 75% nationally) that many businesses fail within the first Five (5) years due to falling in the trap.



Usually the reason is from a poor business plan concept. By that I mean the your BP may be a sound idea, but it's not the reality, it's the dream come true thought. We want our business to succeed, we want it to be a great success, we are so enthused about it, we can make the banks see it in their heads as well. (OK, sometimes) You get the idea! There are these high ambitions that may come crumbling down if we don't have a reality check. Let someone take us on and give us the hard questions, the pros and cons; when they're done - do it again! Natalie Tarpinian, VP Sales @ SitePoint Media, wrote an article in the Pulse section of LinkedIn, "7 Essential Elements of a Business Plan", ways to avoid the trap before you start.



PLEASE STAY, DON'T LEAVE NOW!



The (trap) flight or fleet with customers. They start coming to you for products or services. Your business seems to be flourishing for a time, maybe the first couple years. They're in flighting- mode; they come and go, not stuck to any particular business. Some come, but don't stay. You notice your customer base isn't what it started. It's a normal part of business, customers come check you out, see if your services/products are what their looking for; will they leave (fleet) else where for you?



NO GIMMICKS PLEASE



Your service/products may be the same as others in your locality, but how you stand out from the rest is you getting out of the 'trap'. The worst thing to have is a gimmick, unless you're a food service, gimmicks are not sustainable, they lose appeal quick. Check out all the empty store front properties. Customer service and great (real) value is sustainable; it builds credibility and integrity to help you avoid any traps of a failing to be business. Can you endure the trap and be an over-comer?



Not to long ago, our design dept working with a client who was turned down three times by banks, created not just his website and logos made a 3-D disk of his plans, we made his business plan coincide with the disk. His reward, not only did he go back to the first back of choice and get approved, he received 1/3 more. It's been three+ years, and still growing, his bank loan is paid in full. Every twelve months he calls us in to keep his plan moving in the right direction.



Build your BP, making sure your foundation is strong and steady. Don't look for overly quick growth, but steady forward momentum. $u$taining isn't fast, but it is steadily moving forward. Check your BP from time to time making sure you don't lose the vision. And most of all, keep counsel with your BP provider, bank, close friends. Never go it alone. Wishing you all the best growth with your businesses.


 
 
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