Are you an entrepreneur, C-suite executive, or decision-maker at a small business with $1 to $5 million in annual revenue? If so, our services are built for you. Here at Rich in Thought, we’re passionate about leadership, entrepreneurship and freedom. We focus on executive coaching, strategic planning, performance management and accountability. We’re not interested in short-term fixes, but rather long-term, sustainable solutions for our clients.
Running a small business is not easy. In fact, data from the Bureau of Labor Statistics show that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. That means 1 out of 4 budding business owners and entrepreneurs won’t see their business make a lasting impact on their legacy. And we want to help our clients build a legacy.
Small businesses fail for a variety of reasons. For many small business owners and entrepreneurs, running out of money is always a huge risk. Business owners may know what funds are needed day to day but they may be unaware of how much revenue is being generated. This combination can lead to business failure. Inexperience in managing a company and an unwillingness to delegate tasks and visualize an actionable business plan can also be disastrous. According to the Harvard Business Review, writing a business plan makes your business more likely to succeed. Finally, poorly planned or executed marketing campaigns, or a lack of adequate marketing and publicity, are among the other issues that drag down small businesses.
This is where we come in. With business failure rates so high, executives, business owners, and entrepreneurs need guidance. Executive coaching, training and consulting provide the right training needs at the right time for busy executives. At Rich in Thought, we provide individually-tailored solutions and training scenarios for executives who need to focus on what they do best, running their business.
We have an advantage in that we have a distance from your company, culture, leaders and employees. We come in with an objective eye and focus on what’s really working. This way, the business owner can place responsibility where it belongs and make quick decisions. We have vast experience working for clients with different corporate structures, cultures and climates. Adapting to the situation is what we do. Find out why executive coaching, training and consultation can help your small business not just succeed but thrive.