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Towards Business Success

  • according to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months.
  • Serial businessman, retail magnate and ex-Dragon Theo Paphitis says, “50% of all small businesses fail in the first couple of years.  It’s a damning statistic but it’s true.”  He goes on to explain the reasons, “They haven’t done their research, they don’t know where to go for the right funding.  The reason people fail is because they don’t do their homework.  It’s about… performing better, and the only way you can do that is through knowledge.”
    Source: The Guardian (8 July 2014)
  • On a positive note, businesses that actively plan — meaning they plan and measure against the plan — grow 30 percent faster. A comprehensive research study by Cranfield University, “Do Business Plans Add Value?” discovered businesses that actively plan grow 30 percent faster.

Let’s consider some of the reasons for these alarming statistics.

The reasons so many small businesses fail

  • A confusion between profits and cash, and delaying tracking cash until it’s a critical problem — small business start-ups are prone to simply running out of cash
  • An inability to build a profitable business model with an understanding of revenue, expense drivers and product margin
  • Failure to create and communicate concise value propositions in a clear and compelling way
  • No real differentiation in the market, which makes price the only competitive advantage
  • Emotional pricing instead of strategic pricing; reacting to gut feel and emotion rather than data
  • Not communicating with customers to understand their needs, leading to a lack of understanding of the market
  • Lack of strategic business planning
  • Rapid expansion leading to over spending and running out of cash
  • A lack of systems and processes for operations, as well as sales and marketing (both are important)

This course is designed for people who are in the early stages of planning or launching their aesthetics business. It will help you avoid common mistakes and learn how to get your business off to the very best start.

The course lasts six weeks. During this time, you’ll watch five modules at your own pace and will be able to come to three fortnightly Zoom meetings.

The modules include:

Module 01: MINDSET

Get into the right mindset to work on your business. Ready, steady, success!

Module 02: VISION

It’s time to clarify your vision and start building your plan.

Module 03: NICHE

How to narrow your niche and get clarity on who you serve.

Module 04: PRICING

All about pricing, pricing myths and the best pricing strategy for your business. Learn the one thing to avoid that will make business success significantly more likely.

Module 05: FINANCE

Learn to understand financial statements and those all-important ratios. This is a MUST for any business owner.

Learn to understand financial statements and those all-important ratios. This is a MUST for any business owner.

You can start this course at any time that is convenient for you.  Please email us to find out more.

 

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