10 Reasons Why Your Small Business Will Fail - and How To Avoid These Tragic Mistakes

Owning your own small business is the dream of millions around the world - but with all the hype about the fortunes being made by entrepreneurs and startups it’s important to remember that launching and growing a business is hard work. In fact, 22% of new businesses fail in the first year and a full 50% fail by year 5! Why do so many businesses fail? In this video I share 10 of the most common reasons small businesses fail and what exactly you can do to avoid those tragic mistakes.
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This video is for entrepreneurs, designers, creative professionals and anyone interested in brand strategy, business planning, graphic design, design trend, marketing and communications.
Philip VanDusen is the owner of Verhaal Brand Design, a brand strategy and design agency and the founder of Brand Design Masters, an ecosystem of mastermind groups, courses and networking communities for creative professionals and digital entrepreneurs seeking to build bullet-proof personal brands, agencies and businesses.
Philip is a highly accomplished creative executive and expert in brand strategy, graphic design, marketing and creative management. Philip gives design, branding, marketing, career and business advice to creative professionals, entrepreneurs and companies on how to build successful brands for themselves or for the clients and customers they serve.

Пікірлер: 112

  • @deltahomicide9300
    @deltahomicide93007 ай бұрын

    I have little overhead, no employees and starting to become competitive in the industry. No more excuses. Thank you this video rings true.

  • @katelewis7267
    @katelewis726711 ай бұрын

    I am so glad I found your channel. Your delivery is so clear and for the first time I feel like I now have tangible, attainable focus points to work on my business. I find so many other advice pages over-whelming and intense that I come away feel like a deer in the headlights. Your content is so clearly delivered and in a way that encourages. Thanks Philip :)

  • @therefinedbusinessblueprint
    @therefinedbusinessblueprint6 ай бұрын

    Spot-on video highlighting the challenges of owning a small business. The stats don't lie, and the insights into common pitfalls are crucial.

  • @ka-trks837
    @ka-trks837 Жыл бұрын

    Awesome summation Phil. Launching small business and doing it right 101 :)

  • @jessicaj.1011
    @jessicaj.1011 Жыл бұрын

    Lots of info to take in here. Thanks!

  • @juliocargnin
    @juliocargnin Жыл бұрын

    That’s a really good summary! Thank you!

  • @patriciahmuthonimaina1971
    @patriciahmuthonimaina1971 Жыл бұрын

    This is very very informative. Great advice.

  • @D_punkster
    @D_punkster3 ай бұрын

    This is gold. Thanks 😊

  • @PhilipVanDusen

    @PhilipVanDusen

    3 ай бұрын

    @D_punkster, Thanks so much!~ Can you do me a favor as a small thank you? Please share my video with a friend or two! I'm trying to build my subscribers. More to come!

  • @aakansharaj3329
    @aakansharaj33292 ай бұрын

    This is so valuable, I really wish I would have come across this sooner! Really highlights where I need to start focusing in my own business.

  • @creatika1360
    @creatika1360 Жыл бұрын

    Thank you very much! God bless you! 🙏❤⭐

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Thanks Creatika!

  • @PhilipHarperGraphicDesign
    @PhilipHarperGraphicDesign Жыл бұрын

    Kodak actually make high-end digital camera sensors which are bought by other high-end manufacturers. So, they're still going, just less of a b2c model and now b2b. In a way, you could say this is changing direction and innovating.

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Thanks Philip! I didn’t know that…I have to say though they were still late to the digital party. They could have totally owned it, IMHO

  • @collettlitchard7690
    @collettlitchard7690 Жыл бұрын

    As always, your knowledge and insight is invaluable 🙏 thank you

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Collet! Great to see you here girl! Hope you're having a great summer.

  • @JohnDoe-fu4qd
    @JohnDoe-fu4qd8 ай бұрын

    great video. wish I found you sooner. never too late. You explain concepts very clearly.

  • @labanlefleur1512
    @labanlefleur1512 Жыл бұрын

    This was really informative and came at the perfect time when I want to start focusing on my company on a serious level.

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Laban, That's awesome. Glad I could help. Let me know if I can be of any additional help as you launch!

  • @labanlefleur1512

    @labanlefleur1512

    Жыл бұрын

    @@PhilipVanDusen Thank you, I will defnitley give a shoutout if I need further help.

  • @EpikStudios.official
    @EpikStudios.official Жыл бұрын

    Great video!

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    MasterEpik, Thanks so much!~ Can you do me a favor as a small thank you? Please share my video with a friend or two! I'm trying to build my subscribers. More to come!

  • @robch4414
    @robch441410 ай бұрын

    Great stuff, thanks. I'd suggest another reason for failure is the inability to realise this is not just about creating a new product or service, but also building a new company, with all the boring housekeeping that involves.

  • @namdagoat
    @namdagoat Жыл бұрын

    You earned my sub tons of great information here ✅

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Welcome aboard!

  • @matyaz3558
    @matyaz35587 ай бұрын

    Thanks!!!

  • @JuliusAnthony
    @JuliusAnthony4 ай бұрын

    Amazing tips sir

  • @michaelmckeary1165
    @michaelmckeary11659 ай бұрын

    Very Good.

  • @FannyDiazIsrael
    @FannyDiazIsrael Жыл бұрын

    Just in time! Hope soon to be able to hire a branding specialist 🌺

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Hey Fanny, I'm ready when you are...😉

  • @user-kv1zl2kp2q
    @user-kv1zl2kp2q8 ай бұрын

    Help to educate the family

  • @zhouyongming4151
    @zhouyongming4151 Жыл бұрын

    great video

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Thanks!

  • @dashiajames1882
    @dashiajames1882 Жыл бұрын

    Great stuff to know...!! I'm just starting my business I'm selling clothes but I kinda changed it cuz I think ppl only think I sell clothes. I don't know if it's a good thing or a bad thing. I don't want ppl to think I only sell clothes. Great video..!!

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Dashia, Thanks and congrats on people knowing about your business - it's not a bad thing that people know what you do - and try not to confuse them with promoting too many conflicting ideas when you are just starting out. Keep it simple.

  • @balex556

    @balex556

    Жыл бұрын

    well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services

  • @YasinNabi
    @YasinNabi Жыл бұрын

    I love your contents and wonderful shared sir.... subbed and liked , a fellow creator

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Much appreciated!

  • @VelvetAnnn
    @VelvetAnnn Жыл бұрын

    It's insane that literally EVERY mistake you pointed out, are the exact ones that I've been making. You clearly know your shit babe. I just started up a little lipgloss business and I know I know 'Rome wasn't built in a day' but man I cannot seem to reach anyone. I've done my research and follow some of the most successful young women who do AMAZING with their lipgloss business and took all their advice when it comes to promoting on all my social media's. I even just designed my own website. I don't wanna get so discouraged to the point where I throw in the towel bc I finally got out of the dark place I was stuck in for years and I actually found something I enjoy doing. But I'm stuck 😞

  • @balex556

    @balex556

    Жыл бұрын

    Hey maybe I can help you out with this let me check out your website

  • @yiweilee2715

    @yiweilee2715

    9 ай бұрын

    How is your business now? I wanted to start a dessert business from home but after listening to this video, I’m wondering if I’ll be able to do it without having much start up capital

  • @billyb4790

    @billyb4790

    6 ай бұрын

    Don't forget you can follow some of the most successful men, too. No need to pick sides ;)

  • @VelvetAnnn

    @VelvetAnnn

    6 ай бұрын

    @billyb4790 oh God, don't be one of those weirdos who over analyze every single thing that someone says when having a normal conversation/making a statement... making everything about sexism. My god this world is so obnoxious anymore. My goodness, crucified for saying 'ive done my research and some of the most successful young women who do amazing with their lipgloss business and took all their advice when it comes to promoting on all my social medias' 🥱😒

  • @billyb4790

    @billyb4790

    6 ай бұрын

    @@VelvetAnnn hey suit yourself. You were the one limiting yourself to gender not me 😂

  • @joshkaye5303
    @joshkaye53036 ай бұрын

    And at the same time we ask "what's your 5 year plan?" in other words - things change

  • @cherrybattung59
    @cherrybattung5910 ай бұрын

    I just finally admitted my 7 month old business loss yesterday. I have lots of sleepless night and keep wondering why and where I went wrong. Now I in deep debt and depressed. Sometimes I wish I just d!*

  • @corallall
    @corallall Жыл бұрын

    Philip,where does the name Verhaal originate from? Tell us yr story!

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Adrian! Good question. Here's a bit from my website describing it: "Verhaal means 'story' in Dutch. We chose the word “story” because we believe having an authentic story is a cornerstone of all successful brands and ours is no exception. Our founder Philip’s dutch ancestor, Abraham Pieterszen VanDusen, arrived in “The New World” in 1627 and was one of the first hundred settlers of “Manatus”, the island that became Manhattan. Abraham owned two mills, a tavern and served on the “Council of Twelve” one of the first governing bodies in New Amsterdam (what NYC was called before it became NYC!). So you could say our history of entrepreneurship and commerce in this country is as authentic as it gets.The establishment of Verhaal Brand Design is a celebration of this story and the unfettered passion and curiosity with which we approach our work and your brand."

  • @corallall

    @corallall

    Жыл бұрын

    @@PhilipVanDusen Wow! What a rich historical heritage revealed! Indeed, your surname is of Dutch origin.

  • @akaffouni
    @akaffouni Жыл бұрын

    Gold

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    Hey Abdulkarim! Thanks so much for checking out my video! I appreciate you taking the time to leave a comment. Keep tuning in!

  • @philnorling
    @philnorling Жыл бұрын

    Did I just earn an MBA?

  • @williamrogers4917
    @williamrogers491711 ай бұрын

    Did not learn anything new. It is like all the other, telling you things you need to do but never how to do them. And so you are off through a maze of info trying to figure out where you need to go to find the info you need but never finding it because of all the other list like this.

  • @creatika1360
    @creatika1360 Жыл бұрын

    🙏❤⭐👌👌👌👏👏👏👏👏👏👏

  • @PhilipVanDusen

    @PhilipVanDusen

    Жыл бұрын

    💯💥💫

  • @eldahkrab
    @eldahkrab Жыл бұрын

    This Is true ahahaha.

  • @Felicia-pk3oz
    @Felicia-pk3oz5 ай бұрын

    Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life

  • @YemilaJosh

    @YemilaJosh

    5 ай бұрын

    You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.

  • @HindaErnest

    @HindaErnest

    5 ай бұрын

    I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.

  • @LinterBlinse

    @LinterBlinse

    5 ай бұрын

    yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.

  • @Rosalind-fk2yh

    @Rosalind-fk2yh

    5 ай бұрын

    Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people

  • @Sapphire-ly5ci

    @Sapphire-ly5ci

    5 ай бұрын

    ​@@Rosalind-fk2yhObviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as sativa_hannah

  • @lemlemdema567
    @lemlemdema56710 ай бұрын

    DR T YOU.

  • @HADIPlayzpiano
    @HADIPlayzpiano9 ай бұрын

    boooo

  • @user-hn7zt6ye4j
    @user-hn7zt6ye4j7 ай бұрын

    I invite you to Islam