When a business closes within the first two years
I went to one of my favorite small retail shops in Phoenix tonight only to met by a “For Rent” sign on the front door! My heart literally dropped! I had been a patron for the past two years. I loved the store, the products & especially the owner & staff. They not only helped me with their store services, but even came out to where I lived one day to change a flat tire for me! Now, that is what I call service! I checked their website and not sure if they are just moving or actually closing.
Unfortunately, as a Business Growth Coach, the first 2 years are critical to whether a business survives. Oftentimes, it is not the lack of customers that is the problem, but rather the opposite. Your business grows and as it does, so do the demands of keeping up with the changes. This is the critical mass time when you either grow with it or decide the close the doors.
One thing to help you with this is to be sure and include areas for growth in your business plan. Especially within the first 3 years, you will see your business shrink and grow. Don’t be afraid to let go and follow where the client needs are, as you are a RESULTS provider and meeting customer needs while increasing your profits is a win-win for both.
Hopefully, my good friend Robb is just changing locations or if this means he is moving onto a new journey, I wish him only the best.