What Prevents Business Success?

By Allan Younger

Starting and managing a business is hard! A high percentage of new businesses fail within their first five years. I mentioned in my last article that one of the factors contributing to failure is the lack of connections that increase the likelihood of success. The team at the Small Business Center has worked with many successful businesses. You can read about some of them on our website at www.forsythtech.edu. We have also worked with businesses that have yet to experience success.

I am pleased that we offer a variety of services that increase the likelihood of success. On the other hand, I was recently contacted by a news reporter who shared information about poor performance of small businesses in our area. Although I was not familiar with the study that was referenced, I mentioned a few issues that I feel prevent success. These issues include: lack of awareness of resources; lack of planning and preparation; an inability to clearly communicate their unique value proposition; business owners who function without mentors; and business owners who do not network effectively.

            The Small Business Center is ready to address each of these issues. Many of our clients have experienced increased success as a result of our support. Here is what we have to offer:

  • Awareness of resources: Our website is loaded with written and video resources. We maintain partnerships with organizations prepared to support small businesses.
  • Planning and preparation: A primary focus is to help business owners position themselves for success.
  • Communication of value: We help business owners develop their value message to existing and potential customers.
  • Mentors: We maintain a team of business counselors with expertise and experience to support business owners.
  • Networking: We teach people how to network and regularly share information about networking opportunities.

You may visit the Small Business Center to learn about our services. We are located at 525@Vine in Wake Forest Innovation Quarter just east of the heart of downtown Winston-Salem.             You also may contact us at SBC@forsythtech.edu or by calling (336) 757-3810.

The objective of the Small Business Center at Forsyth Tech is to help small businesses succeed by providing high quality, readily accessible assistance to prospective and existing business owners in Forsyth and Stokes counties.


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All rights reserved. © January 2015 by Black Business Media, LLC. Copying other than for personal or internal reference without the expressed permission of Black Business Media, LLC is prohibited.

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