How I entered the bidness convo…

I had an incredible english professor once. He was a genius at getting to the root of current events and understanding them. He called it “entering a conversation”. His tutelage had an enormous effect on me. He spent the majority of the class talking to us and sharing great stories about the value of this skill.

It took me a while to really understand the process, but once I did, IT WAS EYE OPENING!! There are conversations going on everywhere! Interesting ones, fun ones, exciting ones, and scary ones.

Since then, I have spent years delved deeply into another very real conversation. This one really hit close to my heart…….

The failure rate of businesses.

Here’s the predicament: there is a substantial failure rate >50% according to the SBA, >85% according to Bloomberg, either way it’s ugly. I have been trying to figure out why it’s so high and the reasons are as many as there are startups (~540,000/mo (I know, that is nuts!!)). With that said, there are some big leaders in the “reasons for failure” race.

  1. Emotional Pricing
  2. Living too high for the business
  3. Nonpayment of taxes
  4. No knowledge of pricing
  5. Lack of planning
  6. No knowledge of financing
  7. No experience in record keeping

Yikes.

“Shhhh! You might feel a slight tugging…”

So the problem is identified and it is scary. But what can you do about it? If only the Matrix were real and we could be uploaded with knowledge whenever we wanted.

It may not be as far away as we had thought. The concept that we built Startegy around was that if the software could observe the financial position of a company it could suggest better ways to accomplish the goal; profit.

It was super easy we just built the software to tell people to increase the price of a product and increase the quantity sold.

*high five bro*

Oh, wait, that idea is just the worst! I award you no points!

So back to the drawing board we were. We iterated, built, argued, made-up, pivoted, tested, punched the computer, wept quietly, changed, reconsidered, wept loudly…and then it happened. It started to work. It started to work properly.

I started to crawl out of the fetal position, blinking to see if it was true.

You know how they say that it is harder to make something simple than it is to make it complex. I stand (lay *twitching*) here today as a testimony that it is true.

Back to the convo

There was this huge pain and people who’s businesses were failing were losing everything that they has so faithfully invested.

Pain point.

So, we are going to launch this beast and its main focus is on the giving knowledge to the entrepreneur who is supremely talented in her or his space, but may be among the significant number of people that meet the criteria listed above.

I am so passionate about this topic because it really means that there could be an oasis for entrepreneurs everywhere. A place where they can go to get the much needed information to continue along their path.

Check it out at startegy.com, I really think it’ll be worth your while.

Wouldn’t it be great if the abundant knowledge around us could be applied to us in our various situations and we didn’t need to try to find out what we don’t know?

I think so.


What is one thing that you absolutely WISH you knew when you started your business?

If you have an entrepreneurs spirit, check out the greatest tool for small businesses (imho) at startegy.com.

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