The truth about businesses? Only 25% of new businesses make it past the 15 year mark, with around 20% failing in the first two years of opening.
These stats contribute to a mass movement we refer to as “The Great Resignation,” where business owners realize that their idea for converting a concept to cash isn’t as easy or as feasible as they believed.
The good news? Your business, passion, and lifelong dream doesn’t have to be a statistic.
While there’s no magic bullet for success – and while it’s certainly true that outside factors contribute to a business’s rise or decline – there’s a mindset you can harness to move toward flourishing and away from withering: reinvention.
As a business owner navigating the shifting economic landscape and volatile marketplace, it’s imperative that you accept you will never be able to count on certainty. Instead, adopting a mindset that allows for flexibility, evolution, and change could be the key to success. If you’re open to possibilities, you’ll be better able to maneuver whatever our crazy world throws your way, be it pandemics or market crashes. Move with the universe, not against it.
Our question to you right now is: will you be a part of the great resignation, or subscribe to the process of reinvention?
Behind the simple, straightforward process of a caterpillar becoming a butterfly is the less savory reality of decay. This transformation requires the death of what used to be to make way for something more beautiful.
If and when your business falls on hard times, your path forward is carved by your commitment to reinvention. How will you keep your products or services relevant? Through what mediums or events will you strive for growth and promotion? What are you doing that is different, unique, or new?
All of these questions heavily depend on your ability to think outside the box. By tapping into your creativity and innovative spirit, you give your business endless potential to evolve and transform. Learn to view hardship and obstacles as opportunities rather than roadblocks, and your “decay” can be converted to development.
In order to move forward, you want people buzzing about your business and all up in your business! At a more basic level, you have to continue to remind people that your business exists, and is ready and capable to serve their needs.
One easy way to keep your services front-of-mind for potential customers is by making good use of social media. An active Facebook Business page or Instagram account can really have an impact on your bottom line.
Maybe that makes sense, but social media isn’t entirely in your wheelhouse. If that sounds like you, make Arrow a part of your marketing strategy. Whether you’re continuing confidently on an established path, or are changing course to pursue new horizons for your business, we’re here to shout about your services from the rooftops. All you have to do is say “yes” to our bid to do the heavy lifting for you.
…We got you.