A recent study reveals that 72% of small businesses would like to grow and need to add employees to do so. When polled they report that several challenges are preventing them from doing so. According to the National Federation of Independent Business, business uncertainty and weak sales are the two primary impediments to growth.
Thirty years of experience allows The Peak Performance Group, Inc. to provide expert guidance and knowledge and address problems no one else can. According to Sheri’ Taber, CEO of The Peak Performance Group, Inc., “We work with leading organizations, big and small, to build their capabilities, leadership skills and proficiency. We invest significant time and effort equipping them for sustainable growth, while developing and transferring best practice expertise and functional know-how.”
“This,” she says, “prevents our clients from the stutters and stalls their competition is experiencing.”
Other challenges small business owners report as obstacles to growth are:
Seventy-two percent want to increase the number of employees within the next five years.
The majority of small business owners believe increased sales would boost confidence more than any other factor.
Half of the small business owners who believe increased sales would boost their confidence have plans to significantly change their marketing strategy within the next 5 years. Twenty-eight percent of this group are developing or testing a proprietary product or service they plan to bring to market.
Over half think that internally generated cash flows will be their most important source of financing desired investment over the next five years.
Sixty-one percent report the lack of skilled employees as an impediment and would hire at least one additional employee at the current market wage rate in the next six months if they could find people with appropriate skills. Over 37 percent would employ more than one.
Is your company spending enormous amounts of time and energy with less than breakthrough results? Are you certain that everyone inside your organization is focused on and achieving what really matters – when it matters? Are you getting your solution to all of your potential markets in the most profitable way possible?
Statistics show that less than 20% of what your people do has a direct impact on your organization’s strategic goals and objectives. When polled, most employees and leaders have no idea how their daily activities impact the company’s goals, direction or its objectives. In other words, they aren’t doing the right things at the right time and that is costing you a lot of money.
It’s a dirty little secret: Most business owners cannot articulate the objective, scope, and advantage of their business in a simple statement. If they can’t, neither can anyone else.
The Peak Performance Group’s Strategy Development Clinics and Workshops can help you develop innovative strategy and an execution plan that will increase your performance, profits and growth. When the right people and strategy are in place, the organization’s operating processes, programs and activity can be strategically linked and driven by its goals and objectives. An accountability driven, execution style culture becomes possible. Mistakes are reduced and eliminated, profitability increases, competitive advantage is achieved and sustainability becomes a reality.
Contact us if you want to overcome the impediments to small business success.