It's a very sad fact that more start ups fail than succeed. Approximately 60% fail by year 3 and never make it to year 4. And of those that DO succeed, only 4% will make it to the £1million turnover per year mark.
So what causes this and how can YOU reduce your chances of failure?
My guest today is Ronan Walsh, a digital marketing expert with more than 10 years experience. He originally started off doing digital marketing for his own business which he later sold (over 10 years ago now)
In this episode he shares;
- why he thinks most start-ups fail
- how start ups can increase their chances of success and longevity
- how to plan your cash flow in line with your marketing
- how and when to start growing your team
- things to consider when growing your team to ensure the greatest results.
Some of the biggest takeaways from the episode;
- you don't sell your product or service, you sell the problem it solves (i.e. the solution)
- you won't know, nor do you need to know, all of the answers to start
- failure (in the instance of a business ceasing trading) can be prevented
You can find Ronan on facebook and LinkedIn using the links below
https://www.linkedin.com/in/ronanwals/
https://www.facebook.com/Digitaltrawler/
I'd love to know your thoughts, make sure you take a screenshot and tag me @tarapuntercoaching on social media!
www.tarapunterpr.co.uk
www.instagram.com/tarapuntercoaching
Wholesome by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/5050-wholesome
License: http://creativecommons.org/licenses/by/4.0/