Michael Gerber, author of the mega-best sellers “The E-Myth” and “The E-Myth Revisited,” is one of the people I admire and respect and who has had a significant impact on me and my businesses. Although I have listened many times to Gerber’s audio tape about the E-Myth, and have read and reread his book, I always come away learning more. In addition, I have read a booklet by Michael Gerber entitled: “Why Most Small Businesses Fail and What You Can Do About It.”
In this booklet – Gerber lists the 10 reasons why most businesses fail – and how you can avoid them. So – here they are:
1. Lack of management systems
2. Lack of vision, purpose, or principles
3. Lack of financial planning and review
4. Over dependence on specific individuals in the business
5. Poor market segmentation and/or strategy
6. Failure to establish and/or communicate company goals
7. Competition or lack of market knowledge
8. Inadequate capitalization
9. Absence of a standard-quality program
10. Owners concentrating on the technical, rather than the strategic, work at hand.
After reading this list a couple times, it became apparent that “strategic planning and strategic thinking” are absolutely vital to avoiding these reasons for failure. And that is the primary focus of my consulting practices, J. G. Ebersole Associates and The Renaissance Group(TM). If you would like to learn more about how to be better prepared to develop and grow a successful business and know how you can avoid these ten reasons for failure, please contact Glenn Ebersole through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
Glenn Ebersole, Jr. is a multi-faceted professional, who is recognized as a visionary, guide and facilitator in the fields of business coaching, marketing, public relations, management, strategic planning and engineering. Glenn is the Founder and Chief Executive of two Lancaster, PA based consulting practices: The Renaissance Group, a creative marketing, public relations, strategic planning and business development consulting firm and J. G. Ebersole Associates, an independent professional engineering, marketing, and management consulting firm. He is a Certified Facilitator and serves as a business coach and a strategic planning facilitator and consultant to a diverse list of clients. Glenn is also the author of a monthly newsletter, “Glenn’s Guiding Lines – Thoughts From Your Strategic Thinking Business Coach” and has published more than 250 articles on business.
To find out more about the benefits & rewards of effectively working with a strategic thinking business coach, please contact Glenn Ebersole through his web site at http://www.businesscoach4u.com or jgecoach@aol.com