Why is Owning a Business Like Building Your First House?
Most anyone who attempts to build their own first home is most likely lacking experience, the skills and the knowledge they need to complete the build.
These are the same problems you had when you started your first business.
Think about the comparison. If you started building a home you would have to order cement and build the frames for the foundation. Without knowing how to do all that, you naturally would make some mistakes and probably have weak spots in some of the footings.
Those weak spots—if not fixed—would result in a house that would eventually collapse or delay the build of your second story.
The same is true for building a business.
The five footings; Sales/Marketing, Financial Management, Human Resources, Operations, and Leadership are common areas of weakness among business owners. Because they lack of knowledge, skills and experience the result is weak spots.
When the weak spots are not fixed in a business, it can cause the business to fail (80% of the time in five years or less). If not corrected after the five years due to ongoing problems, the business has created a JOB not a viable growing prosperous business.
Entrepreneurs serious about owning a thriving business need to gain the new knowledge, develop the right skills, and tap into expert experience to build the business into what the owner wants – a success.
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If you need more knowledge in any of the above five fields, I can help!
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Bowersox Business Coaching