Comments on: Q&A: What do you think the key factors are for small business failure in the UK? http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk Let's talk business, ....HOME & SMALL BUSINESS! Tue, 31 Aug 2010 17:13:39 +0100 http://wordpress.org/?v=2.8.6 hourly 1 By: Stefan Töpfer http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk/comment-page-1#comment-46375 Stefan Töpfer Thu, 31 Jan 2008 08:39:44 +0000 http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk#comment-46375 Hi Ann, Thank you for your post. I'm a little alarmed that you feel I'm advocating not to go into business for yourself, nothing is further from my mind. The concepts I'm talking about are tools to survive better and not in any way academic. I hope my blog is easy to read and understand. Please, if I did not make my points clear let me know and I will rectify this situation. Best, Stefan Hi Ann,

Thank you for your post. I’m a little alarmed that you feel I’m advocating not to go into business for yourself, nothing is further from my mind.

The concepts I’m talking about are tools to survive better and not in any way academic. I hope my blog is easy to read and understand. Please, if I did not make my points clear let me know and I will rectify this situation.

Best, Stefan

]]> By: Ann White http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk/comment-page-1#comment-46374 Ann White Thu, 31 Jan 2008 01:58:23 +0000 http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk#comment-46374 Following a proven path, and learning by doing is a better way than trying to figure out how to reinvent the wheel. I get a lot of encouragment both entrepreneurial and spiritual from James Braush. Many startups don't have the experience or general knowledge that is needed to understand the concepts you are talking about. It's easy to say that such folks should not go into business, but how else can we take control? Following a proven path, and learning by doing is a better way than trying to figure out how to reinvent the wheel. I get a lot of encouragment both entrepreneurial and spiritual from James Braush. Many startups don’t have the experience or general knowledge that is needed to understand the concepts you are talking about. It’s easy to say that such folks should not go into business, but how else can we take control?

]]> By: Andrew Ivey http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk/comment-page-1#comment-46367 Andrew Ivey Fri, 25 Jan 2008 15:04:34 +0000 http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk#comment-46367 There are entrepreneurs who see business failure as part of normal business experience - but when it involves us it's painful. I reckon that an over commitment to fixed costs (property and plant) and poor use of cash (inventory stocking etc) are as much to blame as weak marketing. There are entrepreneurs who see business failure as part of normal business experience – but when it involves us it’s painful. I reckon that an over commitment to fixed costs (property and plant) and poor use of cash (inventory stocking etc) are as much to blame as weak marketing.

]]> By: Jim Lee http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk/comment-page-1#comment-46359 Jim Lee Wed, 23 Jan 2008 14:34:55 +0000 http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk#comment-46359 Hi Stefan, You're absolutely right that there are many successful companies who reinvented the wheel... But it's often much harder to do, than simply following a proven path. That said, you also can't just be a "me too" company... you must bring some unique value to the table. And no question, bad customer service will hurt you and make you lose customers... I guess the big companies can sometimes "afford" to compensate for that with a huge marketing budget. Thanks for your good points. Cheers, Jim Hi Stefan,

You’re absolutely right that there are many successful companies who reinvented the wheel… But it’s often much harder to do, than simply following a proven path. That said, you also can’t just be a “me too” company… you must bring some unique value to the table.

And no question, bad customer service will hurt you and make you lose customers… I guess the big companies can sometimes “afford” to compensate for that with a huge marketing budget.

Thanks for your good points.

Cheers,
Jim

]]> By: Stefan Töpfer http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk/comment-page-1#comment-46357 Stefan Töpfer Wed, 23 Jan 2008 08:26:24 +0000 http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk#comment-46357 Hi Jim, Thank you for your comment. You will find that many companies have been "reinventing" the wheel and been very successful, in-fact that is what made them successful, i.e. IKEA with their value co-production sales and marketing action. As far as time wasting is concerned I agree with you, business focus is essential to any business success. The fact that there are plenty of highly profitable companies, with for instance bad customer service, does not mean they are not loosing customers. With my focus on micro business, it is imperative to get customer service right since it is often the main differentiator to bigger and/or cheaper competition. Best, Stefan Hi Jim,

Thank you for your comment. You will find that many companies have been “reinventing” the wheel and been very successful, in-fact that is what made them successful, i.e. IKEA with their value co-production sales and marketing action.

As far as time wasting is concerned I agree with you, business focus is essential to any business success.

The fact that there are plenty of highly profitable companies, with for instance bad customer service, does not mean they are not loosing customers. With my focus on micro business, it is imperative to get customer service right since it is often the main differentiator to bigger and/or cheaper competition.

Best, Stefan

]]> By: Jim Lee http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk/comment-page-1#comment-46356 Jim Lee Wed, 23 Jan 2008 03:24:24 +0000 http://www.sme-blog.com/question-answer/qa-what-do-you-think-the-key-factors-are-for-small-business-failure-in-the-uk#comment-46356 I believe the biggest cause of small business failure is not following a proven business plan, and instead they try to "re-invent the wheel"... especially when it comes to sales and marketing. The other factor is that many unsuccessful business owners waste their time with "busy" but non-vital tasks. There's a great article about this here: http://www.jamesbrausch.com/the-right-action-vs-distraction/ Yes, the other items you mentioned are important... but there are plenty of highly profitable companies with poor customer care, too much red tape, poor customer care, etc. Cheers, Jim I believe the biggest cause of small business failure is not following a proven business plan, and instead they try to “re-invent the wheel”… especially when it comes to sales and marketing.

The other factor is that many unsuccessful business owners waste their time with “busy” but non-vital tasks. There’s a great article about this here:
http://www.jamesbrausch.com/the-right-action-vs-distraction/

Yes, the other items you mentioned are important… but there are plenty of highly profitable companies with poor customer care, too much red tape, poor customer care, etc.

Cheers,
Jim

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