10 Reasons Why Your Small Business Will Fail - and How To Avoid These Tragic Mistakes

Рет қаралды 44,153

Күн бұрын

Owning your own small business is the dream of millions around the world - but with all the hype about the fortunes being made by entrepreneurs and startups it’s important to remember that launching and growing a business is hard work. In fact, 22% of new businesses fail in the first year and a full 50% fail by year 5! Why do so many businesses fail? In this video I share 10 of the most common reasons small businesses fail and what exactly you can do to avoid those tragic mistakes.
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This video is for entrepreneurs, designers, creative professionals and anyone interested in brand strategy, business planning, graphic design, design trend, marketing and communications.
Philip VanDusen is the owner of Verhaal Brand Design, a brand strategy and design agency and the founder of Brand Design Masters, an ecosystem of mastermind groups, courses and networking communities for creative professionals and digital entrepreneurs seeking to build bullet-proof personal brands, agencies and businesses.
Philip is a highly accomplished creative executive and expert in brand strategy, graphic design, marketing and creative management. Philip gives design, branding, marketing, career and business advice to creative professionals, entrepreneurs and companies on how to build successful brands for themselves or for the clients and customers they serve.

Пікірлер: 115

@deltahomicide9300 9 ай бұрын

I have little overhead, no employees and starting to become competitive in the industry. No more excuses. Thank you this video rings true.

@therefinedbusinessblueprint 7 ай бұрын

Spot-on video highlighting the challenges of owning a small business. The stats don't lie, and the insights into common pitfalls are crucial.

@katelewis7267 Жыл бұрын

I am so glad I found your channel. Your delivery is so clear and for the first time I feel like I now have tangible, attainable focus points to work on my business. I find so many other advice pages over-whelming and intense that I come away feel like a deer in the headlights. Your content is so clearly delivered and in a way that encourages. Thanks Philip :)

@jessicaj.1011 Жыл бұрын

Lots of info to take in here. Thanks!

@juliocargnin Жыл бұрын

That’s a really good summary! Thank you!

@ka-trks837 Жыл бұрын

Awesome summation Phil. Launching small business and doing it right 101 :)

@patriciahmuthonimaina1971 Жыл бұрын

This is very very informative. Great advice.

@labanlefleur1512 Жыл бұрын

This was really informative and came at the perfect time when I want to start focusing on my company on a serious level.

@PhilipVanDusen Жыл бұрын

Laban, That's awesome. Glad I could help. Let me know if I can be of any additional help as you launch!

@labanlefleur1512 Жыл бұрын

@@PhilipVanDusen Thank you, I will defnitley give a shoutout if I need further help.

@aakansharaj3329 3 ай бұрын

This is so valuable, I really wish I would have come across this sooner! Really highlights where I need to start focusing in my own business.

@collettlitchard7690 Жыл бұрын

As always, your knowledge and insight is invaluable 🙏 thank you

@PhilipVanDusen Жыл бұрын

Collet! Great to see you here girl! Hope you're having a great summer.

@D_punkster 4 ай бұрын

This is gold. Thanks 😊

@PhilipVanDusen 4 ай бұрын

@D_punkster, Thanks so much!~ Can you do me a favor as a small thank you? Please share my video with a friend or two! I'm trying to build my subscribers. More to come!

@creatika1360 Жыл бұрын

Thank you very much! God bless you! 🙏❤⭐

@PhilipVanDusen Жыл бұрын

Thanks Creatika!

@PhilipHarperGraphicDesign Жыл бұрын

Kodak actually make high-end digital camera sensors which are bought by other high-end manufacturers. So, they're still going, just less of a b2c model and now b2b. In a way, you could say this is changing direction and innovating.

@PhilipVanDusen Жыл бұрын

Thanks Philip! I didn’t know that…I have to say though they were still late to the digital party. They could have totally owned it, IMHO

@JohnDoe-fu4qd 9 ай бұрын

great video. wish I found you sooner. never too late. You explain concepts very clearly.

@matyaz3558 8 ай бұрын

Thanks!!!

@robch4414 11 ай бұрын

Great stuff, thanks. I'd suggest another reason for failure is the inability to realise this is not just about creating a new product or service, but also building a new company, with all the boring housekeeping that involves.

@namdagoat Жыл бұрын

You earned my sub tons of great information here ✅

@PhilipVanDusen Жыл бұрын

Welcome aboard!

@EpikStudios.official Жыл бұрын

Great video!

@PhilipVanDusen Жыл бұрын

MasterEpik, Thanks so much!~ Can you do me a favor as a small thank you? Please share my video with a friend or two! I'm trying to build my subscribers. More to come!

@JuliusAnthony 5 ай бұрын

Amazing tips sir

@michaelmckeary1165 10 ай бұрын

Very Good.

@FannyDiazIsrael Жыл бұрын

Just in time! Hope soon to be able to hire a branding specialist 🌺

@PhilipVanDusen Жыл бұрын

Hey Fanny, I'm ready when you are...😉

@user-kv1zl2kp2q 9 ай бұрын

Help to educate the family

@zhouyongming4151 Жыл бұрын

great video

@PhilipVanDusen Жыл бұрын

Thanks!

@dashiajames1882 Жыл бұрын

Great stuff to know...!! I'm just starting my business I'm selling clothes but I kinda changed it cuz I think ppl only think I sell clothes. I don't know if it's a good thing or a bad thing. I don't want ppl to think I only sell clothes. Great video..!!

@PhilipVanDusen Жыл бұрын

Dashia, Thanks and congrats on people knowing about your business - it's not a bad thing that people know what you do - and try not to confuse them with promoting too many conflicting ideas when you are just starting out. Keep it simple.

@balex556 Жыл бұрын

well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services

@joshkaye5303 7 ай бұрын

And at the same time we ask "what's your 5 year plan?" in other words - things change

@user-np4kg9bj1c 20 күн бұрын

I’m looking to start a museum, no museum within 100 miles of me, well over 150,000 people within 40 miles of me

@YasinNabi Жыл бұрын

I love your contents and wonderful shared sir.... subbed and liked , a fellow creator

@PhilipVanDusen Жыл бұрын

Much appreciated!

@akaffouni Жыл бұрын

Gold

@PhilipVanDusen Жыл бұрын

Hey Abdulkarim! Thanks so much for checking out my video! I appreciate you taking the time to leave a comment. Keep tuning in!

@cherrybattung59 11 ай бұрын

I just finally admitted my 7 month old business loss yesterday. I have lots of sleepless night and keep wondering why and where I went wrong. Now I in deep debt and depressed. Sometimes I wish I just d!*

@VelvetAnnn Жыл бұрын

It's insane that literally EVERY mistake you pointed out, are the exact ones that I've been making. You clearly know your shit babe. I just started up a little lipgloss business and I know I know 'Rome wasn't built in a day' but man I cannot seem to reach anyone. I've done my research and follow some of the most successful young women who do AMAZING with their lipgloss business and took all their advice when it comes to promoting on all my social media's. I even just designed my own website. I don't wanna get so discouraged to the point where I throw in the towel bc I finally got out of the dark place I was stuck in for years and I actually found something I enjoy doing. But I'm stuck 😞

@balex556 Жыл бұрын

Hey maybe I can help you out with this let me check out your website

@yiweilee2715 10 ай бұрын

How is your business now? I wanted to start a dessert business from home but after listening to this video, I’m wondering if I’ll be able to do it without having much start up capital

@billyb4790 7 ай бұрын

Don't forget you can follow some of the most successful men, too. No need to pick sides ;)

@VelvetAnnn 7 ай бұрын

@billyb4790 oh God, don't be one of those weirdos who over analyze every single thing that someone says when having a normal conversation/making a statement... making everything about sexism. My god this world is so obnoxious anymore. My goodness, crucified for saying 'ive done my research and some of the most successful young women who do amazing with their lipgloss business and took all their advice when it comes to promoting on all my social medias' 🥱😒

@billyb4790 7 ай бұрын

@@VelvetAnnn hey suit yourself. You were the one limiting yourself to gender not me 😂

@muhammadelmasry7932 9 күн бұрын

I tried and I failed , it fail because the cash flow was so small

@corallall Жыл бұрын

Philip,where does the name Verhaal originate from? Tell us yr story!

@PhilipVanDusen Жыл бұрын

Adrian! Good question. Here's a bit from my website describing it: "Verhaal means 'story' in Dutch. We chose the word “story” because we believe having an authentic story is a cornerstone of all successful brands and ours is no exception. Our founder Philip’s dutch ancestor, Abraham Pieterszen VanDusen, arrived in “The New World” in 1627 and was one of the first hundred settlers of “Manatus”, the island that became Manhattan. Abraham owned two mills, a tavern and served on the “Council of Twelve” one of the first governing bodies in New Amsterdam (what NYC was called before it became NYC!). So you could say our history of entrepreneurship and commerce in this country is as authentic as it gets.The establishment of Verhaal Brand Design is a celebration of this story and the unfettered passion and curiosity with which we approach our work and your brand."

@corallall Жыл бұрын

@@PhilipVanDusen Wow! What a rich historical heritage revealed! Indeed, your surname is of Dutch origin.

@philnorling Жыл бұрын

Did I just earn an MBA?

@williamrogers4917 Жыл бұрын

Did not learn anything new. It is like all the other, telling you things you need to do but never how to do them. And so you are off through a maze of info trying to figure out where you need to go to find the info you need but never finding it because of all the other list like this.

@creatika1360 Жыл бұрын

🙏❤⭐👌👌👌👏👏👏👏👏👏👏

@PhilipVanDusen Жыл бұрын

💯💥💫

@eldahkrab Жыл бұрын

This Is true ahahaha.

@Felicia-pk3oz 6 ай бұрын

Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life

@YemilaJosh 6 ай бұрын

You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.

@HindaErnest 6 ай бұрын

I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.

@LinterBlinse 6 ай бұрын

yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.

@Rosalind-fk2yh 6 ай бұрын

Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people

@Sapphire-ly5ci 6 ай бұрын

@@Rosalind-fk2yhObviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as sativa_hannah

@lemlemdema567 11 ай бұрын

DR T YOU.

@adeolawealth5374 6 күн бұрын

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