Australian small business being killed from the inside

Small businesses are in more strife than ever with over 56 percent showing little or no growth over the past year despite long hours, no holidays and minimum pay for the owner.

Business development expert Paul Blackburn said with small business long touted as the lifeblood of the Australian economy, these are worrying statistics for the economy and employment prospects.

“When you analyse many of these businesses, they are not focusing enough on three critical things; this lack of focus can potentially kill their business,” he said.

 “Ignoring lead generation, mindset and customer retention is a serious mistake.

“And yet, a sound business is a ticket to freedom. Why are so many owners signing their business’s death warrant by not ensuring these foundations are securely in place?”

Mr Blackburn said in the snapshot of Australian small business does not paint a pretty picture.

“Servcorp Australian Business Growth Monitor shows more than half of companies experienced no revenue growth during the last 12 months, up 5 per cent last July.

“Australian Chamber of Commerce and Industry's (ACCI) latest small business survey found sales revenue recording its longest run of negative readings since the report first started 18 years ago.

“And National Australia Bank's small and medium-sized enterprises (SME) survey for the December quarter said the same thing.”

Mr Blackburn said it is easy to blame the carbon tax, GFC, and a range of other things for lack of business growth.

“But there are businesses, despite the doom and gloom, that are prospering,” he said.

“These ordinary people consistently outperform others despite operating in the same market with the same red tape, conditions, circumstances, difficulties and hurdles.

“Why? They have a lead generation plan that is well executed, which means leads convert to sales.

“A negative mindset is the biggest killer of business growth. If doesn’t matter how great your idea is, if your head’s not right, you’ll fail. 

“The inability to change from practitioner to entrepreneur, the inability to convert challenges into opportunities, and the inability to see opportunities in the first place will hinder success.

“Finally, customer retention.  It is one thing to get a customer but what strategy do you have in place to keep them?”

Mr Blackburn said he has been working on and in many businesses over the past 30 years.

“By far the biggest killer is doing things the same way you were doing it last year or the year before,” he said.

“Business in the 21^st century is fast paced, people are more discerning and there is so much competition, you have to keep your edge.

“My advice is never stop learning; do courses on lead generation and customer service, invest in personal development and get someone on your side – a business mentor – to champion your growth.”

For more information on how to turn your business around, go to www.beyondsuccess.com.au

To learn how to overcome these business killers, Beyond Success run one day Business Avalanche workshops. The next workshop will be in Perth Friday April 4.

Book your seat here 

ENDS