Skip links
5 Reasons Businesses Fail 5 Reasons Businesses Fail 5 Reasons Businesses Fail Paradigm Marketing and Design
5 Reasons Businesses Fail

Marketing Tips, Insights, and Trends

5 Reasons Businesses Fail

Author: Rachel Durkan Category: B2B, B2C, Branding, Marketing, Nonprofit, Retail, Strategic Business Growth Date: July 10, 2015

5 Reasons Businesses Fail

The Nike phrase of “Just Do It” might apply in the world of sports, but when it comes to the world of successful business marketing this statement could not be more wrong. A strong marketing plan is just that…a plan, a carefully crafted and researched set of steps in order to build brand awareness and to increase business success.

Here are the Top 5 Reasons 8 Out of 10 Businesses Fail:

(according to Forbes Magazine)

  1. Not really in touch with customers through deep dialogue
  2. No real differentiation in the market (lack of unique value propositions)
  3. Failure to communicate value propositions in clear, concise, and compelling fashion
  4. Leadership breakdown at the top (founder dysfunction)
  5. Inability to develop a profitable business model with proven revenue streams

The incredible thing about this list is that each factor affects the next. Three out these five reasons why businesses fail are directly related to marketing. That means that 60% of the reasons that companies fail is due to an ineffective and insufficient marketing strategy.

Here are ways to check that you have a strong foundation for marketing leading you towards taking your first steps towards a success business. Ask yourself…

  • Have we done consumer research to identify the wants and needs of our consumers?
  • What is the value our business hold for our consumers?
  • Are we communicating our value propositions effectively to our consumers?

When it comes to creating a strong foundation for a business make sure you have all of your bases covered. Make sure that…

  • Your business will make money
  • The business owners are able to look at the big picture and don’t get caught in the weeds
  • The business owners take the time to create a plan

Take the time to create a plan. This plan will become the know all be all of your company and your brand leading you and your team to great success.

Have questions? Contact us

  • This field is for validation purposes and should be left unchanged.

You may also like

Woman sketching designs for a company rebranding
Author: Kaitlyn Partington
Date: February 22, 2019
5 Steps to Your Rebranding Strategy You built your business 5, 10 or 15+ years ago and since then you have grown, whether that be in terms of the number of employees, annual revenue, or service offerings. Now it may seem as though your brand, logo, color scheme, maybe even your company name no longer reflect what your business has become... CONTINUE READING
infographic showing branding icons
Author: Rachel Durkan
Date: January 18, 2019
Top Branding Trends for 2019 It’s the start of a new year, and that means there’s lots to look forward to in the land of marketing. As we get ourselves situated in 2019 and prepare to put the finishing touches on the highly digitized 2010s, we’ve started to see some exciting new trends emerge. The branding trends for 2019 are... CONTINUE READING
Return to top of page
Paradigm Marketing and Design Over the past 7 years, Paradigm Marketing and Design has evolved into a complete turnkey agency, but this award winning shop is still small enough to give clients the individual attention and hands-on, detail oriented services they need to be confident in their marketing effort and competitive in their industries.
330 Changebridge Rd. Suite #101 Pine Brook, NJ 07058, USA
Rachel Phone: 973-250-4995