Established in 1953, the SBA (Small
Business Administration) reported in
2019 that 30.2 million small
businesses are operating in this country, which comprise a massive 99.9%
of all United States businesses.
The SBA defines a small business as a
firm with fewer than 500 employees. The
majority of small business owners considered a lack of capital or cash flow one
of their major challenges, followed closely by trouble with marketing and
advertising.
Small
Business Failure Rate
“If you fail to plan, you are planning to fail”
(Benjamin Franklin). Careful, methodical, strategic planning -- and hard work –
favor the success of any major event. The same can be said of most business accomplishments.
According to the Bureau of Labor Statistics, 20%
of small businesses fail in their first year, 30% of small business fail in
their second year, and 50% of small businesses fail after five years in
business. Finally, 70% of small business owners fail in their 10th year in
business.
It’s critical for all businesses to have a business plan. It must
be realistic, based on accurate, current information and educated projections
for the future. Components should include:
·
Description of the business, vision, goals, and keys to success
·
Financial: capital equipment and supply list, balance sheet,
income statement, cash flow analysis, sales and expense forecast
·
Market analysis
·
Marketing, advertising, and promotional activities
·
Analysis of competition
·
Potential problems and solutions
·
Budgeting and managing company growths
Whether you have a business plan or not, our services identify
many essential elements needed to grow your business that are included within a
strong business plan.
Business
Owners Need Help
Various studies show SMBs lack
the time and knowledge to manage digital media effectively. Many
small business owners acknowledge their shortcomings with more than 70% stating
they wish they could take advantage of digital media to help expand their
businesses and reach new customers. Most small business owners believe
current marketing providers don’t have their best interest in mind. Owners
often feel marketing providers push “flavor of the month” products on them and
don’t bother to learn what they actually need.
300%
- 500% Return on Investment
URWA Consulting has been providing digital marketing
consulting services to hundreds of SMB clients since our inception in 2011. The
success of our firm is directly attributed to our unique business model which enables
us to work with businesses to identify, develop strategies and measure KPI’s
(key performance indicators) that drive business growth goals and increase the probability
of long-term success. Clients implementing our recommendations experience
between 300% to 500% returns on investments.
Give us a call to schedule your complimentary
consultation.
