Business Bootcamp | Business Bootcamps Help Entrepreneurs Succeed
It is very important for entrepreneurs to understand that the failure rate of entrepreneurs in Canada is so high, which is why so many entrepreneurs should attend a business bootcamp. The reason why it is so important, is because it can help entrepreneurs learn what they need to do.
Not only is the failure rate of small businesses in Canada at 50%. But even in the first year alone, 15% of all small businesses in Canada will fail.
30% of all small businesses that open their business in Canada. Will end up closing the doors to their business and their second year. And 50% will fail by five years after owning their business.
It is even more important for business owners to understand why small businesses in Canada are likely to fail. Industry Canada did a survey in order to find out why failure rate was so high.
And what they came up with, were three common reasons. Why almost every single entrepreneur in Canada said they were not successful. Not only are these the most common reasons why businesses were not successful.
But these are also problems that can be easily overcome. As long as entrepreneurs know what they need to do in their business. To avoid these causes of failure.
The third most common reason why businesses in Canada are not successful. Is because 23% of failed businesses say they cannot find or keep staff in their business. Causes them to have to close their doors.
The second most common reason why businesses in Canada ended up closing their doors. Is because 29% of them simply ran out of money in their business.
And the single most common reason why businesses failed in Canada. Which is the reason why 42% of them were not successful. Is because they could not find enough customers to sell their products and services to.
And while this might seem like an inconsequential problem. Even if half of the small businesses in Canada are failing. People in this country need to know what happens when these small businesses fail.
Entrepreneurs are real people who end up losing their life savings, or going bankrupt. And business failure can break up families and marriages. And cause people to fall into depressions.
and not only does it affect the entrepreneurs themselves. But it also affects about 50% of the Alberta population. Because have everybody with jobs in this province. Are employed by small business owners.
Which makes it incredibly important for entrepreneurs to succeed. When people realize that if they do not succeed. Half the jobs in this province could go away as well.
This is why all entrepreneurs should go to a business bootcamp. That can help business owners understand what they need to do to overcome these obstacles in their business. And become more likely to succeed.
The sooner they go to a business bootcamp, the sooner they can overcome the obstacles. And not only avoid being the 15% that fail in year one, or 30% that fail in year two. They will be able to succeed exponentially. And own their business for many years to come.
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It is very important for entrepreneurs to know what they need to succeed, and that they can learn it in a business bootcamp. The reason why it is important to teach entrepreneurs in a bootcamp.
Is because there is no school for entrepreneurs. And even business school does not teach people how to run their own businesses.
The business bootcamp that is taught by the Associates at Spurrell and Associates teaches eight different topics. That are designed to help entrepreneurs overcome the three common reasons why most businesses in Canada fail.
The first thing that they will learn once they get to the event. Are all of the most common myths that business owners tend to believe about being an entrepreneur.
Some of the myths that many entrepreneurs believe that they can pick and choose what hours they want to work, that they can be successful by putting in only four or five hours a week.
They also hear that they must be motivated in order to be able to work. And not only are these myths not true. But they can be very dangerous for people to believe because they will keep entrepreneurs from doing what they need to do to be successful.
They will also learn about how to create an effective schedule. That will allow them to have time scheduled for every task that will help them reach their business schools.
The next thing that they will learn is all about their personal finances. They can give less money to the government, and also save more money in their personal life.
Business owners will also learn about how to do some essential business planning. Especially since studies have shown that businesses that have a plan. Our 46% more likely to grow the revenue in their business.
Business owners will also hear about how to do some effective marketing. Because even if they have the best website in the world. If customers are not able to find that website, it is not going to help them land those customers.
Business owners will also hear about how to create checklists and templates in their business. Not only so that they can automate as many processes as possible.
So they can easily teach those automated processes to their employees. So entrepreneurs can stop working in their business so much. And start working on their business more so that they can grow their business.
There are also going to cover how to read financial statements. So that they can make more informed and better financial decisions in their business.
And finally, what they have to do to build their best team. So that they do not have to be limited by having to find or replace people in their business.
All of these things can help business owners avoid the high failure rate. By addressing each of the reasons why business owners fail.
The sooner a business owner can come to a business bootcamp put on by Spurrell and Associates. The higher likelihood they are going to succeed in business.