Small Business Trends published a very helpful article entitled "Why Chaos is Killing Small Businesses and the Formula for Conquering It." Below is an excerpt:
We are in an entrepreneurial revolution. There has been an epic shift in people starting new businesses. People leave their jobs, either by choice, or by being laid off. With big ambitions, they pursue their passions and start a business. The unfortunate truth is that most small businesses fail. In the next 12 months alone, 600,000 new small businesses will be created. By the end of the year, more than half will have to close up shop forever.
A recent report by the National Small Business Association showed that more than 41 percent of entrepreneurs are concerned about the survival of their small businesses. None of those numbers feel good to me—and I’d guess they don’t feel good to you, either. I agree with the NSBA that “more can be done to ensure entrepreneurship remains a viable, attainable option for every American.” I strongly believe entrepreneurship is the answer to many of the problems America faces.
So what turns the dream of entrepreneurship into a nightmare time after time?
It’s called chaos and it is killing small businesses everywhere. What causes chaos? What are the symptoms? All-nighters at the office. Missed Little League games. Cold dinners and disappointed families waiting for you at home. Does this sound like you? These are all symptoms of chaos.
All seems to be going well for the small business owner until they get their first customer. That’s when chaos moves in and starts to take over. Before they can come up for air they’ve been sucked under by the business.
Don’t give up. There’s a better way to run a small business. You can grow a successful small business and still have a life, if: