Typical Needs and Problem AreasAccording to some statistics in the last few years, 99.5% of all businesses in most western economies employ fewer than 200 people, 98% employ fewer than 50 people and 96.4% employ fewer than 20 people. These figures clearly illustrate the importance of independent businesses in the economy, but equally many such businesses fail within the first three years of starting - in fact only 15% actually make it beyond this point. The Issues Ongoing feedback from thousands of independent businesses reveals that the greatest problems recognised by their managing directors/owners are: - Cash flow
- Funding
- Keeping up to date with information
- Lack of exit strategy
- Lack of time
- Lack of up-to-date information
- Legislation (e.g. Employment, Health & Safety)
- Loneliness
- Loss of original vision for the business
- Marketing
- Profitability
- Sales
The Management 'Gap' Feedback also shows that managing directors / owners of small to medium sized businesses generally have to: - know everything
- keep up with everything, and
- do nearly everything themselves.
But business people cannot be expected to 'know what they don't know'. Importantly, it's not just the lack of knowledge or experience that can be a limiting factor, but also the available time to be effective in doing what needs to be done. More often than not, the need is for practical hands-on assistance. Practical advice that works From research gained from face to face meetings with owners/managers of independent businesses, it is understood that there simply aren't enough hours in the day to focus on non-profitable activities. The day to day needs of the business must be taken care of, whilst the right solution is implemented. A no-obligation meeting with an Executive Associate is the ideal way to discuss the challenges faced on a confidential basis, and to discover if the business qualifies for help under the Business Support Programme delivering practical advice that works. A meeting with an IIB Executive Associate can be one of the most important meetings ever.
A no-obligation meeting with an Executive Associate is the ideal way to discuss the challenges faced on a confidential basis, and to discover if the business qualifies for help under the Business Support Programme delivering practical advice that works. A meeting with an IIB Executive Associate can be one of the most important meetings ever. To request such a meeting with an Executive Associate kindly do so here.
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Typical Business Needs
