The Small Business Administration reported that 8 out of 10 new small businesses fail within the first 3 years. They also state that in the present economy, entrepreneurship will be a crucial means of moving out of the current recession. Sound pretty scary doesn’t it? Are we damned if we do and damned if we don’t? We don’t have to be. A good rule of thumb before opening your new business, is to remember proverbs, “ failure to plan is planning to fail.”
In doing my research on this why so many small businesses fail, there were the common reasons that I expected to see, including lack of capital and reserve funds, overspending, and having an inadequate business plan. But even I was surprised to find that not having a web presence was included in almost every article on the subject. These articles went on to stress the importance of business sites being well-designed to enhance businesses by being visually compelling and user friendly. Having websites that are poorly designed or built will actually discourage visitors from becoming customers.
Being a fairly new small business, we work hard to not fall into the common traps that could be disastrous for us. So our bookkeeper, the lovely Jaime, is here today to reconcile the business accounts as she does every month. Jaime keeps the books in order so we see clearly how the business is doing financially. This is how we know how to set our budget for necessary business expenses. Tina, the owner has always had a good head on her shoulders when it came to her personal finances, but knew when it came to her business, it would be best to hire a person who specializes in the field.
For us, having a great web presence is a non-issue. That is the easy part. Keeping the books in order is another story. So here at Insight Designs, we’re leaving the books to the expert. Does this mean we choose to be completely ignorant on the subject? – absolutely not. But what we focus on is what we do best, website design, graphic design and online marketing.
Properly promoting your business online and to your target audience is also crucial for business success. Is it worth taking the time to research and have a basic understanding? – Absolutely. As far as designing, building and marketing your business website, the best plan may be to hire a professional and stick to what you do best.