Struggling to grow your business? How to stay focused & grow your business

In today’s blog, we are going to explore why businesses aren’t growing consistently and how to over comes these challenges.

Let’s start by exploring some of the top reasons here in the UK, why most business owners go bust or can’t grow.

1. They have no clear vision for their business: A business without a vision is likely to stagnate and fail because it lacks a clear direction and purpose, which hinders decision-making, employee motivation, and the ability to adapt to market changes, ultimately leading to a lack of growth and potential for missing opportunities in the market; essentially, without a vision, a business is like a ship without a compass, drifting aimlessly. 

2. Their team doesn’t know the vision either and aren’t given clearly defined roles and job descriptions: Same reason as failure cause 1.

3. They price all their products/services by guessing or copying other businesses that also don’t know: Poor product pricing can lead to a failing business or lack of growth because it directly affects revenue and profit margins. If prices are set too low, the business may struggle to cover costs and make a profit, leading to financial strain. Conversely, if prices are too high, it can deter customers, leading to decreased sales. Striking the right balance is crucial for maintaining competitiveness, ensuring profitability, and supporting business expansion.

4. They have no idea of their cost to create a sale: Not knowing your business's cost of sale can result in setting prices that don't cover expenses, leading to insufficient profit margins. Without this crucial information, you can't accurately assess profitability, make informed pricing decisions, or identify cost-saving opportunities, all of which are essential for sustainable growth and preventing financial losses.

5. Their level of tracking results is to check the bank account: Only tracking results by checking your bank account in a business can lead to stagnation or failure because it provides a limited perspective on the company’s overall health. Relying solely on bank balances might neglect important financial indicators like cash flow, profit margins, and accounts receivable/payable, which are crucial for understanding operational efficiency and profitability. Comprehensive financial and performance analysis helps identify opportunities and risks, guiding effective decision-making.

6. Their idea of marketing is word of mouth: Relying solely on word-of-mouth marketing can limit business growth because it significantly narrows the reach and speed of customer acquisition compared to other marketing strategies. Without essential marketing tools like digital advertising, social media, and SEO, a business may struggle to reach new audiences, adapt to market changes, and effectively compete, potentially leading to stagnation or failure.

7. They think their role is to support the business when the business is there to help them: When business owners view their role as merely supporting their business rather than leveraging the business to serve them, it can hinder growth. This mindset might limit strategic decision-making and innovation, as the focus remains on maintaining rather than expanding or adapting. By seeing the business as a tool to achieve personal and professional goals, owners can foster a forward-thinking approach, encouraging investment in development, risk-taking, and exploring new opportunities that drive growth.

8. They have no idea about their margins so profit is nothing more than a guess: When businesses lack a clear understanding of their profit margins, they are unable to accurately gauge their profitability. This uncertainty can lead to poor financial decisions and mismanagement of resources, ultimately hindering growth. Without precise financial insights, businesses may find it challenging to identify areas for improvement, leading to stagnant progress or even failure. Clear knowledge of profit margins is crucial for setting realistic goals, making informed decisions, and driving sustainable business growth.

9. They try to do all roles of technician, manager, and entrepreneur: When business owners attempt to handle all roles—technician, manager, and entrepreneur—they risk overextending themselves and neglecting crucial aspects of the business. This can lead to inefficiencies and burnout, as they may not have the time or expertise to perform each role effectively. As a result, critical strategic planning, operational management, and technical tasks might suffer, hindering growth and increasing the risk of business failure due to lack of focus and innovation.

10. They live in 2025 yet still do everything manually, they don’t have automation in place, they don’t understand the benefits of a CRM, and they have no software that tracks results: This will lead to inevitable burn-out and stop your business from growing in a cost effective manner.

11. They have a marketing budget: This one has two sides. Having a marketing budget and sticking to it does not inherently lead to no growth or business failure. Instead, it is crucial for sustainable growth and financial management. A marketing budget helps allocate resources efficiently, ensuring that marketing efforts are effective without overspending. However, if a budget is too rigid or not aligned with strategic goals, it may limit opportunities to adapt to market changes or invest in high-potential areas, leading to stagnation. The key is to have a flexible budget that allows for adjustments based on real-time market feedback and business needs.

12. They take advice from family and friends who don’t have a clue about business: Taking advice from family and friends who lack business expertise can lead to misguided decisions for several reasons. Their recommendations may be based on personal opinions rather than industry knowledge, leading to strategies that are not grounded in business fundamentals. This can result in inefficient operations, poor financial management, and missed opportunities, ultimately hindering growth or causing failure. Seeking guidance from experienced professionals ensures more informed, objective, and strategic decisions.

13. They have no way of catching data and knowing their clients: Yes, understanding and analysing customer data is crucial for business growth. Without it, businesses struggle to tailor their offerings to meet customer needs, predict market trends, and make informed decisions. This can lead to missed opportunities for improvement, reduced customer satisfaction, and ultimately, business failure. Implementing systems to capture and analyse client data is essential for sustainable success.

14. They don’t even know who their ideal client is and think targeting EVERYONE is smart: When businesses try to target everyone, they often fail to connect deeply with any particular group, leading to vague messaging that doesn't resonate with anyone in particular. This scattergun approach dilutes marketing efforts, wastes resources, and can result in a weak brand identity. Understanding and focusing on an ideal client allows businesses to tailor their products, services, and marketing strategies to meet specific needs, fostering loyalty and growth.

15. They don’t see ROI they see the cost, some will need to google ROI too just to see what it means: Business owners focusing solely on costs without considering ROI (Return on Investment) hinder growth or face failure because they might miss opportunities that, while initially costly, could lead to substantial long-term gains. Prioritising cost-cutting can lead to underinvestment in essential areas like marketing, technology, or employee development, ultimately stifling innovation and competitiveness in the market.

16. They employ when they have too much on, rather than doing a very calculated method which they should be: Business owners who hire reactively, without a strategic approach, risk business stagnation or failure for several reasons. Hiring impulsively can lead to poor recruitment decisions, resulting in under-qualified staff who may not effectively contribute to growth. It also strains financial resources, as wages are paid without guaranteeing a return on investment. A calculated hiring strategy aligns team expansion with long-term goals, ensuring the right skills are brought onboard to foster sustainable growth.

17. They struggle alone and probably feel alone: Many business owners who struggle alone and feel isolated may indeed face challenges that can lead to stagnation or failure. Lack of growth can stem from not having the right support network, fresh perspectives, or collaborative opportunities that often help in overcoming obstacles. It's important for entrepreneurs to seek mentorship, join business networks, or collaborate with peers to exchange ideas and experiences. This can foster innovation, motivation, and ultimately lead to business success.

Those are the top 17 reasons why businesses fail.

Businesses aren’t successful by chance.

Businesses don’t fail for any other reason than the person behind the business and his/her level of business knowledge and emotional intelligence.

Things can be different though!!!

If you're ready to take your business to the next level, we’re here to help.

Following a simple structured plan, reviewed and optimised every 6-weeks is a game changer for business owners looking to thrive. You have to structured action in your business or you’re flying blind at 100 mph which isn’t good for you or your business.

Here at Purple Yak, our coaching programmes are all structured around game plans, these are typically 6 week game plan blocks apart from our start-up programme which requires weekly game plans due to the type of activity you need to take.

The game plans take business owners through a review of their business performance, what needs to be done to move the business forward, showing a step by step guide to move you from point A to point B, any training videos the client may need to help with a business problem and objectives they need to achieve by the next 6 week game plan session with their coach.

This type of structure gives the business owner an understanding of what they need to do next, why they need to do it and when they need to achieve this by. The element of having an accountability partner is one of the strongest elements of the game plan, it keeps clients on mission and motivated to hit their goals even on hard days.

Each game plan is split into actionable chunks and designed to not take up excessive time, allowing our clients to still run their businesses.

You must still free up time to RUN your business and not let it RUN you.

Here are Purple Yak, our Business Growth Club programme is designed to help business owners grow their businesses consistently and sustainably. What we mean by this is that you grow your business over time and in manageable chunks so you don’t bring your business to a grinding halt by taking on too much too quickly.

We assist and guide our clients to improve their businesses as well as how to attract more customers, the right customers that fit your business and avoid getting an influx of challenging customers.

At the beginning of our clients time with us, we work to understand their true reasons behind why they started their business in the first place so we can help them connect back and realign them with their purpose again, if needed. By purpose we mean how does your business serve you and your life, for example, lifestyle, financial freedom, building a legacy, etc.

What is your purpose and have you come off course?

Consider this in your business, if you purpose and current position in your business journey don’t align then you’re not working together. You just re-align yourself and business so that you’re going in the same direction. Without this foundation your efforts to grow your business will leave you either frustrated, confused, stressed or worse, burnt out.

Take time out to sit and consider these things in your business. Schedule a half day or full day ideally in your calendar, you need to create space for yourself to sit, consider, evaluate and form a plan. This time should be scheduled in every 6-8 weeks for you to take a look at your business from a high level, review how the last 6-8 weeks have gone, what’s gone well, what could go better, how can you improve on the next 6-8 weeks.

If you’re struggling to create space to take time out, you need to take yourself away from your business, physically. Lock yourself in room, no interruptions, no phone, no laptop, just take something to take notes on and a drink. This will be the most profound thing you do for your business, I’m not going to mislead you, if you don’t currently do this then it’s going to feel weird and the urge to get distracted are going to creep in. However keep focused, after the first couple of times you’ll grow to love this time both for your own sanity but also for the benefit of your business and the outcomes you’re looking for from your business.

Here’s to an exciting 2025, your journey and wherever it takes you, only you can decide that.

Got a burning question? Reach out on our social channels or email me at michael@purpleyak.co.uk

Thank you so much for reading.

Take care.