Business Bootcamp | Skills That Entrepreneurs Need To Know
Many entrepreneurs need to attend a business bootcamp than many realize. Because there are a lot of knowledge gaps that business owners have when they open the doors to their business.
Even graduates of a business school often do not have all of the information they need. In order to be a successful entrepreneur. And the failure rate for business owners is so high in Canada.
According to industry Canada, the failure rate of small businesses in Canada starts happening in the first year of business ownership. When 15% of all entrepreneurs fail the first year that they open their business.
30% of all small businesses in Canada fail within the second year of operating their business. And the failure rate tops out at 50%, within five years of owning a business.
Not only is the failure rate for entrepreneurs extremely high. In Alberta, half of the entire workforce is employed by small business owners.
Therefore, the high failure rate displaces an extremely large percentage of the workforce. Each is just one of the reasons why Spurrell and Associates have created this business bootcamp to help entrepreneurs succeed.
Industry Canada not only found out what the failure rate for entrepreneurs in Canada was. They also found the most common reasons why these business owners were not successful.
And discovered that the majority of business owners were failing due to three main reasons. What is even more surprising, is that each of these three reasons why business owners are not successful. Are completely avoidable with the right education.
The third most common reason why Canadian entrepreneurs failed in business. And affected 23% of all failed entrepreneurs in this country. Is because they cannot find or keep staff in their business.
And while it is true, the average employee is staying almost half as long as they used to stay with their employers. With the average employee staying approximately five years several years ago. Compared to two point three years the average employee is staying with their employer now.
The second most common reason why entrepreneurs fail in business. And affects 29% of business owners who were not successful. Is because they ran out of money in their business.
Reasons, why entrepreneurs run out of money in their business, is extremely varied. From not generating enough sales, and having out-of-control expenses. To not making the best or most informed financial decisions. That cause them to spend more money than they have.
And the single most common reason why business owners fail in Canada. And affects 42% of all business owners who are not successful. Is because they cannot find enough customers by their products and services.
And whether this is because entrepreneurs marketing is not effective. Or if they did not think of a marketing plan before they open the doors to their business. This cause for businesses to fail than any other single reason.
This is why business owners should come to the business bootcamp. Is because they can learn things that they need to help them avoid these three common obstacles. As well as other information that can help them proactively grow their business as well.
If You Are Looking For A Business Bootcamp?
Many entrepreneurs are unaware of how high the failure rate is for small business owners, which is why Spurrell and Associates have created their business bootcamp. To teach entrepreneurs what they need to know to help them succeed.
Not only is there a high cost to the business owner when entrepreneurs fail. From people losing their livelihood, and life savings as well as go bankrupt. It breaks up families as marriages are torn apart, and people fall into a depression.
But there is also a high cost to the workforce, since 50% of all people in Alberta are employed by small entrepreneurs. Which means there is a huge societal cost associated with business owners who are not successful.
The more entrepreneurs that can learn to be successful. Not only can impact their own life. But the lives of their employees. And help stimulate the economy for the good of the entire province.
However, there is a lot of misinformation about how to run a successful business. Including people who are selling the idea that entrepreneurs can be successful by working only a few hours a week.
When the truth is it takes a lot of hard work, dedication and long hours. In order to accomplish all of the things that a successful business owner needs to do.
The topics that are being taught at the Spurrell and Associates business bootcamp include how to recognize common business myths. So that business owners can learn habits of successful people instead.
They will also learn about how to time block their schedule effectively. So that their scheduling not just their appointments. But time blocking their tasks in advance. So that not only are they setting aside time for all the tasks they need to succeed.
This will also help entrepreneurs know that they have enough time in their calendar. In order to accomplish all of the strategic priorities that they need to complete. In order to reach their goals.
They will also learn how to minimize their taxes on their personal finances. So that they can save more money. But also they will learn how many products and services they need to sell. In order to bring home an additional thousand dollars into their personal finances.
It will also teach entrepreneurs about business planning. Because while only some business owners actually have a business plan. Even though it will make entrepreneurs 50% more likely to grow their revenue in their business.
So that more businesses can have a business plan. And more businesses can use that business plan to help them succeed.
Anyone who owns a business should contact Spurrell and Associates. In order to find out information about their business bootcamp.
And purchase a ticket, so that they can attend this great seminar. And learn all of the skills they need to know. In order to grow a successful business.