Ready, Set, Go!

Written By Sam Barnett

Starting a business today is easy! 

Having a business survive is not easy. In 2023 alone, over 5.3 million new businesses began, 99.9% classified as small. Dreams are realized, and the excitement of a new adventure is incredible. Then, for many, the difficult, if not cruel, business world becomes a reality. Twenty-five percent of businesses don’t make it out of the second year, 45% are gone after five years, and only 25% survive 15 years.

Why?

I have a theory: most new founders and companies know basic business fundamentals but choose to ignore them.

Maybe they are so excited about building the idea, or perhaps they are just overwhelmed by the responsibility of it all. If you search or even ask AI why so many businesses fail, the result you will most likely find is a lack of money. That’s like saying most people die when their heart stops. Both are true statements, but both have a bigger why. 

There are so many challenges today:

  • The hangover of the COVID pandemic.

  • The rapid evolution of technology and AI.

  • Workforce challenges, building and maintaining a team.

  • Rapid changes in the marketplace.

  • A tight financial market.

  • Unforeseen dependencies

  • The dangers of not overseeing your social world

However, going back to the fundamental questions. I believe the reason many businesses fail is that they start without the answers to these questions:

1.        Does anyone really care what I am doing (besides me and my mama)?

2.        What PROBLEM does my business solve, or what JOY does it deliver?

3.        Who are my potential customers?

4.        What do they care about?

5.        Does another business do what my business is doing?

6.        Does that business do what I do better than I can?

7.        What things outside my control does my business depend on?

Knowledge is key. Once you have the answers to the above questions, you can start the big work of creating a great business and financial plan. Creative discernment of the knowledge followed by excellent planning and execution is your difference maker.

It’s time to go to the market. Again, knowledge is key, but the keyring is relationships. You know your customers and what they care about, and your product meets their desires. So, how do they get the product? Create an excellent distribution network; no one can purchase your product if they can't locate it. The next step is to communicate, communicate, communicate! Besides sharing your story with your customers, it's crucial to communicate internally and through your marketing channels so that everyone is on the same page. Craft a memorable brand story that informs and sells like crazy (without being salesy)!

Now, let’s share the story. Numerous possibilities exist in today's media landscape. A great website and a robust social media presence are essential, but after that, we can get creative to reach our target audience.

The advantages and disadvantages of today's social landscape are that you have access to a lot of free, high-quality media and, at the same time, risk negative feedback from cranky customers (even trolls outside your target audience). That's why delivering your message, listening, and being ready to respond are vital. Control your narrative! Win!

I know – there’s lots to do here. I can help, call me!

©2025 Brand Think Plus LLC
Photo Credit Mirsad Sarajlic

Sam Barnett