According to the Australian Bureau of Statistics (ABS) more than two-thirds of small businesses close within their first three years.
We believe this is because many people who have an amazing product or service start a business and only later find out that they do not have the required skills to run a sustainably profitable business – a very different skill set to technical product or service skills!
The good news is that this these skills can be learned. Similar to professional sports people who seek out experts to help them learn the skills they need to be their best, proactive business owners’ partner with people who can help them identify their weaknesses and get their business on track.
Business Success Partners Australia was formed when four like-minded business professionals saw the opportunity to collaborate and share their passion for helping small business owners succeed. We are a growing collective of highly experienced specialists with a combined track record of success across a wide range of businesses and industries.
As noted above, we find many clients are very good at what they do but lack the expertise and experience in running a successful business. The detail of the business is where small business profitability is found. The good news is that our BSPA specialists have the experience and skills to help you get your business performing at its best.
We believe in the power of partnership and know that more can be achieved when different skills and experiences are brought together. When reviewing ABS data from the 2016 – 2017 financial year, it was evident that small and medium businesses out-performed large businesses for most key data items and it is with these facts in mind that we believe partnering with small business owners to help them build strong foundations will lead to a strong and successful venture.
Furthermore, recent ABS figures show that household consumption has grown 3% through the year. This spending has been predominantly in the retail sector. Given that a large proportion of small business operators operate within the food, recreation, culture, furnishings and household equipment sectors it is imperative that we work together and have a plan in place to take advantage of the increased consumer spending habits.
When we work with a retail business owner we look at a range of factors within the business, including:
From this research we look at how to get some quick successes from the ‘low-hanging fruit’ and then we begin to tackle the harder stuff. This is achieved through a partnership, where we keep our business owners on track – in essence we give them a ‘boss’ to report to. Something that many business owners don’t have, often to their detriment, and why things can keep being pushed aside!
Although your business may be called a small business, it doesn’t mean you have to think small.
Sometimes all you need is to be given a chance. Which is why we don’t just work on the starting phase and leave you to fend for yourself.
We believe that collaboration and support are key factors in success and we know that the right plan can change everything.
When BSPA takes on a client, you receive our total commitment. All our skills, knowledge and experience are at your disposal. Working together to improve your business, we will achieve more than you ever thought possible. We do this because it is not possible to be everything to everyone — a clearly defined strategy will help you focus and prevent diversions. This is particularly relevant in the retail sector where it is critical to ensure customers understand what you do and/or sell, and often more importantly why you do what you do.
To this end we have developed the Business Success Program. It is a comprehensive consulting program that improves business profitability and value over a multi-year time frame. We work with business owners on and in their business to create an outcome that delivers more than just profits.
And that is why we do it! To help people uncover their true potential in life.
So, if you’re a retail business owner who wants to take your business to the next level (and we really mean that), please get in touch with us.