Why Small Businesses Fail Reason #2 - Poor Marketing Practices
In the video above, Dr. Paul Borosky, MBA, founder of the Organize-Plan-Grow™ Strategy, explains Reason #2 why small businesses fail—poor marketing practices. He warns that inconsistent marketing causes feast-or-famine cycles, emphasizing the need for persistent, consistent marketing to sustain steady business growth.
Transcript: Why Small Businesses Fail — Reason #2: Poor Marketing Practices
Introduction
So, why do so many small businesses fail? Hey all, Dr. Paul here, founder of Dr. Paul’s Organize-Plan-Grow Strategy. And here is reason number two—poor marketing practices.
The Problem: Inconsistent Marketing
When a business is going well, for some reason, small business owners start to slow or even stop marketing. When their business starts to slow, well, guess what? What they’re going to do is they’re going to start marketing again.
In a best-case scenario, this practice leads to what I call a feast-or-famine cycle, where small business owners go from busy to slow to busy to slow again.
The Consequence: Financial Decline
Unfortunately, all too often, the slow cycle becomes harder and harder to break out of, leading to financial demise for the organization.
The Lesson: Consistent Growth Through Marketing
So, I guess the moral of the story here is running a business through peaks and valleys is a whole lot harder than persistent and consistent growth through persistent marketing.
Conclusion and Call to Action
All right, hopefully this information is helpful. Let’s go ahead and wrap it up.
Hey all, Dr. Paul here, business consultant and creator of the Organize-Plan-Grow™ Strategy. If y’all are interested in more reasons why small businesses fail, check out my short fable-style book Top 10 Reasons Small Businesses Fail: A Real-World Business Survival Guide. It’s available on Amazon.
Let me know what your thoughts are, and don’t forget to like, comment, and subscribe. Thanks.
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About the Author:
Hey all, Dr. Paul Borosky, MBA and DBA here. I am the founder of Quality Business Plan, creator of Dr. Paul's Organize-Plan-Grow Strategy, author of numerous published books on Amazon, such as Why Small Businesses Fail, and publisher of over 1,000 business focused videos on YouTube. For over 14 years, I have helped entrepreneurs and small business owners turn business concepts and dreams into tangible businesses through my business plan writing services, in-person and virtual business consulting, as well as with my financial models.