Why do 80% of businesses fail? One of the main reasons is that many owners are naive.
They don’t have streetsmarts
This lack of knowledge makes their businesses a candidate for the 80% failure rate rather than 20% smbs that succeed.
What is my definition of streetsmarts?
It’s having enough experience to have situational awareness to know when something needs to be addressed and how to address it.
It is the ability and experience to discern what is the common sense way of addressing a situation.
It is learning to gather all pertinent information and advice, then having the confidence in your own common sense (judgement) to adapt this information and advice to deal with the situation you have before you.
The opposite of streetsmart is following information or advice as presented, literally, without situational awareness.
Book learning. Advice from the inexperienced .
It is not having the confidence in one’s own judgement to adapt the information/advice, pragmatically, to the situation at hand.
Examples would be:
the new lieutenant just posted the war zone “following the book”, and not heeding the experienced Master Sargent’s advice and disaster occurs.,
General Custer not listening to his scouts.
Streetsmart advice to smbs (small or medium-sized business) might be thought of as advice from one “who has been through it”.
That is, one who faced many situations that commonly occur in a small or medium sized business, took information and advice based on experience, adapted it to the situation at hand, successfully.
However, it one thing to receive information based on experience as to “what to do”, and another thing to be shown the processes as to ” how to do it”
That’s what am going to offer you…free!
I’m a previous business owner who “sat” in your chair, felt what you are feeling, experienced what you are experiencing.
I’m a guy who who started or bought many small, medium sized businesses had success, made his money, sold the businesses, and then consulted over 100 small or medium sized businesses during a twelve year consulting career.
I have faced almost every business situation an smb owner can experience, or have seen it in my consulting practice.
I hope that sharing my experiences and knowledge online might be helpful to some small to medium sized business owners so that,
with streetsmart best practices and processes,
they can build and operate their businesses with more success and less stress.
Check out my credentials on the “about me”, and if all of this resonates with you,
read on,
…and become a Streetsmart CEO!
Next post: Is This Business Owner You?
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