Why Do the Majority of Small Businesses Fail in the First 5 Years?



 

Hello! My name is Glen Runyon.  I am the founder and Managing Director of Pyramid Consulting, LLC. Pyramid Consulting is a privately held management consulting company specializing in working with small businesses for over 10 years.

Based on statistics from the U.S. Census Bureau and the U.S. Department of Labor, 65% of independent small businesses go out of business in the first five years.  The primary reason for most small business failures is that they simply run out of money.

I started Pyramid Business Coaching to increase the survival rate for small businesses by providing professionally trained business coaches to support the small business owner.

A key missing element for the independent business owner is the lack of a tried and true owner’s manual.  That’s where our licensed professional business coaches can help.  A professional business coach is an expert in various areas and processes of a business.  In practice, a coach takes the time to understand the owner’s business completely and provides systematic development strategies that help the owner reach their financial goals.

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Testimonials

"The firm had grown so very fast that all of the initial processes and procedures had to be reviewed and modified to meet the needs of the expanding work force and management team.  Glen was instrumental in assisting Arrowhead to accomplish this and in a manner where the processes were useful and to the point."

Mary Ann Elliott
Founder & CEO
Arrowhead Global Solutions

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Developing your Owner's Manual

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COACHES CORNER 

Referring to the graphic below, business profitability is supported by five pillars in the structure representing major business strategies.  These business strategies are equally important to the success of any size business.  Arguably more important to the success of a small business is the owner’s leadership, the people who work in the business and the business systems that document how the daily activities of running the business work.  The point is that the development and documentation of the business processes that ultimately comprise the owner’s manual are a fundamental requirement in building a sound small business foundation.