6 objectives of a company to avoid failure

[jrineakter]

Around 70% of Spanish companies fail in their first 5 years of life. What objectives should a company meet to avoid this ? We tell you here!

To repeat (just in case it wasn't clear): approximately 70% of Spanish companies fail within their first 5 years of life. Often before they have had the chance to achieve key business objectives. This statistic is alarming for any entrepreneur, even if your company has already passed the 5-year barrier.

The question is, why do companies fail? Because of poor management decisions? Because of a lack of team cohesion? Because you haven't found the right accounting management software ? The answer is below.

Sometimes, a company's growth objectives fall through the cracks, and the causes of its failure are beyond our control. There may be a bad economic situation, a change in the economic model, a stagnation of the sector, the appearance of a new competitor with exorbitantly low prices and a host of reasons that are beyond our control.

However, most businesses fail because indonesia number data of things that are easily controllable . In fact, usually, the causes of failure come from the actions and attitudes of the person who started the business.

Learn more: Why do businesses fail in their early years?

The good news is that it is possible to compare the things that failed entrepreneurs did and those that succeeded. In this way, we will be able to stay on the right track. Below we will detail the 6 objectives that every company must meet within the first 5 years if it wants to be successful.

Keep your accounts up to date so your business doesn't fail
Keep your accounts up to date so your business doesn't fail
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Strategic objectives of a company
What should be the strategic objectives of a company that must always be kept in mind to avoid failure? Below we will tell you about six…

Profitable business model
Every business must know what its story is and answer questions such as:

Who is our client?
What is the value that the customer wants?
How do we deliver that value at the right price?
How we answer these and many other questions will determine the likelihood of success.

Take all the time you need to write a complete business plan . This is the first and most important goal. You can use the 10 most common questions an investor will ask you to find out what the basics of a business are.

First loyal customer
Another goal of a company will be to get customers who remain loyal to your brand . This will give you the confidence and motivation you need to keep moving forward.

To win those first happy customers you can use these 5 strategies to achieve customer loyalty .

This way, once you have more and more clients, you will be able to analyze with greater knowledge what their problems and needs are and devise strategies to make them feel even more satisfied.

Realistic and scalable sales goals: marketing strategy
Marketing is the voice of your business . Those entrepreneurs who sit around waiting for customers to come to them on their own are destined to fail.

If you want to meet your company's objectives, there are two options. The first, easier but also more expensive, is to hire an external company to develop and execute all marketing campaigns. If you have a high budget, go for it: you will get results more quickly and you can continue to focus on taking care of your product.

However, most of us starting a business have a limited budget. In this case, there is no other option than to learn the techniques of marketing and do it ourselves. Once you know how digital marketing works, create a strategy that is scalable. This means that your campaigns must be able to reach an increasingly larger audience without the need to increase costs by the same percentage.