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Vancouver Business Coach | Solid Business Plans

Vancouver Business Coach | Solid Business Plans

It is very important that entrepreneurs hire an expert like Vancouver business coach. To help them have the plans they need in order to succeed in business.

Vancouver Business Coach

Without plans in place, business owners may make serious mistakes. That can end up costing them their business. In fact, the failure rate for small business owners in Canada is incredibly high.

According to an industry Canada survey that was conducted a few years ago. They found out that the failure rate for small businesses in Canada is very high, with the first business owners failing in the first year of business.

For example, 15% of entrepreneurs that start small businesses in this country. And up going out of business within the first year of ownership. While 30% fail within their second year.

50% of small businesses in Canada will close by their fifth anniversary. And the most tragic thing about all of these scenarios. Is that the failure rate could have been avoided with the right plan.

The number one reason why these businesses that failed in Canada close the doors to their business. Is because they were unable to find enough customers to remain viable in business.

In fact, 42% of all failed entrepreneurs. Said that this was the reason why they were not successful. They might not have failed, if they had plans in place. That helps them identify who their customers were. And had a great marketing plan.

And while many business owners do not have the business plan they need to succeed. Even fewer have a functional marketing plan. That will help them succeed in business.

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And this is why it is imperative for new businesses to hire Vancouver business coach. So that they can understand what they need to do. In order to succeed in their business.

Not only will they talk about things like who their ideal and likely buyers are. Because while many entrepreneurs think that since anybody can buy their product or service. That anybody is their ideal customer.

But just because they consult anybody. Does not mean they should target everybody. Because that is the best way to stand out to nobody. And not get noticed in the marketplace.

Instead, business owners should think of who they would like to have. As their best, and ideal customers. And that is who they should focus on selling products and services to first.

They should start by researching everything that they can about the customers. So that they know what is most important to them. And then delivering those to the customers that come into their business.

As well, Vancouver business coach says once a business owner knows who their ideal and likely buyers are. They will be able to send out a consistent marketing message. Do the same customers.

That will allow them to target those customers. Until they are all buying from the business. By knowing who they are marketing to, and how to reach them. Our two important factors to have as they open the doors to their business for the first time.

Vancouver Business Coach | Solid Business Plans

Especially when entrepreneurs have no business plans, this is when they should be hiring Vancouver business coach. To help them get the information they need. In order to grow their business.

Without a business coach, entrepreneurs might make serious mistakes. That not only can have a negative impact on their business. But can actually cause businesses to close their business altogether.

For example, if business owners think they are going to be able to compete in the marketplace. And have one of their differentiation factors be the lowest price. They might be setting themselves up for failure.

What will happen if they do this. Is that they are going to be attracting the type of customers. That are not loyal. And will go to a competitor business. As soon the price is even a dollar or two less than what they are getting at the business.

But also, when they compete on price alone. Those customers do not care about the experience. Or things like quality. That can help build a brand.

And while many business owners think that that is the only way that they can compete. Because nobody will buy from them if they are not the cheapest product.

Vancouver business coach encourages them to consider their own experiences as a consumer. And consider how often it was that they chose to buy from the business that was the least expensive.

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While business owners think that they are frugal, or that they choose the least expensive option all the time. They probably do not, without realizing it. Because if they chose the least expensive option all of the time.

They would be driving the least expensive car, wearing the least expensive clothing. And eating in the least expensive restaurants. And this is likely not true at all.

When they were purchasing their vehicle. Perhaps they chose to make and model that had many features that they desired. Or, went with the company that gave them additional things.

Such as free tire rotations, a reduced price in oil changes. Or exceptional customer service. Especially when they came in to get a service done on their vehicle.

When thinking about food, they probably are likely to go to an upscale restaurant. When they are celebrating something special. Because of the level of service. But as well, the level of ambience that they have.

They might even choose a restaurant, that had the fastest delivery. If they are ordering food to be delivered to their home. Or even a restaurant that would is child friendly, or catered to children if it was the child’s birthday party.

In fact, there are very few times that an entrepreneur would likely have chosen the least expensive option. Favouring many different variables instead of price. From experience, features, quality and expectations.

This is why they should work with Vancouver business coach. In order to figure out what is most important. And then implementing that into a strategy and plan that will help their business succeed.