馃攳
Why do small businesses fail? Understand why small businesses fail. Mini-series Part 1 of 6. - YouTube
Channel: UBLA UNripped
[3]
Hi everybody welcome back.
Great to see you smiling faces. I hope
[7]
you're doing good
today. We're going to cover off about why
[11]
do small businesses fail. I've decided to turn this into a bit
[15]
of a mini series because there's quite a
lot of information to be covered
[18]
and what we're going to do today is
cover off the first part which is about
[21]
value so let's get started. Yahoo!
[36]
When I first got started in business I
was 28 years old.
[39]
I was living in a small town called
Nelson in New Zealand.
[43]
Have a look at this picture and
you'll see that I got into the local
[46]
paper with my first business called Lift
Link.
[48]
It was quite funny because in that
business, I had no idea
[51]
about value. It was my first business. I
was excited. I wanted to get up and going
[56]
andI got in the local newspaper and I
got a lot of stuff done.
[59]
But i didn't understand the raw concept
of what value is all about.
[63]
i expected that people should actually
be supporting me and helping me to
[67]
create what
what i was wanting to do with the
[69]
business it's like i'm stood next to
this
[72]
tree here and i've actually chosen this
location specifically today for about
[75]
this story because this tree
was planted as a seed and when i planted
[79]
it
it didn't ask me to water it it didn't
[82]
ask me to nurture it didn't
ask me to do anything it just grew on
[86]
its own
so in business that's what businesses
[89]
need to do they need to grow
based on value and deliver value they
[93]
shouldn't be expecting other people to
support them and help them and take care
[97]
of them
and you know come and come to my
[99]
business and help me support me
none of that when i first started
[102]
business that was all the silliness in
my head
[104]
and i didn't understand the core value
that what i need to deliver to my market
[109]
space
is value without value then
[112]
there is no cash there's an equation
cash
[115]
equals value and they're directly
related to each other
[119]
and in business you must get that right
right a lot of businesses fail because
[123]
they don't understand this core concept
of value
[126]
everything that you do in business must
deliver value
[129]
so it values as though it's something
that should be written across the front
[132]
of your head
oh hi cairo oh what have you got
[138]
oh my goodness look at this
thank you you little sweetie got myself
[144]
a bandanna
okay here we go value written across the
[147]
front of my head
bye sweetie oh bye bye take care love
[151]
you to see you thank you
so now i've got it literally written
[155]
across the front of my head so you guys
should have it written across the front
[158]
of your head it should be the front of
mind always
[160]
value is all about business everything
that you do in your business should be
[165]
value focused
oh that's nice to sit down so a nice
[169]
little
bandana huh hop with this um that's so
[173]
sweet
[177]
so my first business didn't do that well
because i really didn't understand value
[181]
at all
and the timing was wrong for the market
[183]
but at least i got started so that was
good in my second business which was
[186]
actually a magazine business
i got a little bit better with the value
[190]
but i still had this mindset that people
should be supporting me
[194]
and i didn't really really get that the
whole concept of business is that
[198]
you produce value and you exchange that
value for money
[202]
that is business and it's nothing about
idealistic ideas about anything it's
[207]
defined value
put a price on it deliver it that's
[211]
business now you can add extra layers in
the
[214]
business in whatever way you like you
can make it social enterprise and all
[217]
that sort of thing but if you forget
that core value
[222]
you're gonna fail in business just like
i did in my first business
[227]
now a few businesses later i took on a
business and created business with my
[231]
partner masami
and it was called fast feast again it
[235]
was in new zealand and it was my first
food business and we did some amazing
[240]
things with the business it was
extremely successful we bought it
[242]
for two thousand dollars of everything
and we built it up
[246]
and over a period of eight to nine
months we built it up and sold it
[250]
we understood how to find value see
value
[254]
articulate value share value market
value
[258]
and we delivered incredible value and
some of the things we did was so
[261]
simple in that shop here's a picture of
it have a look at it it was a very
[265]
simple shop
and it was on a main highway and had a
[268]
lot of
traffic from tracks what we did was
[272]
speed fast feast we needed to produce a
feast
[276]
and produce it fast so the previous shop
used to do everything to order
[280]
so people were busy they were truck
drivers they had to get going they were
[284]
they needed to move fast
so we had everything lined up sandwiches
[287]
there everything ready chips ready there
burgers ready everything
[290]
and we had queues out of the doors we
had truck jams down the road
[295]
we had the police complaining that we
were blocking the national highway we
[299]
had trucks
both sides of the roads at lunchtime so
[302]
we knew
what truck drivers wanted we were on the
[305]
main track route what did they want they
wanted it fast they wanted a package
[308]
they wanted at the right price they
wanted it healthy
[310]
but they wanted the you know they wanted
a little bit of grease in there but not
[313]
too much
grease so we were a nice balance but the
[317]
price was right
so we learned about value and we were
[320]
very successful from that point
it's important to start to see value in
[324]
every single aspect of your business
where you physically locate your
[328]
business which part of the street you
look at it down a dark alleyway is it
[333]
well lit
that's a value because your customers
[336]
have to come to you and if you're not
focused on your customers
[340]
then you're not focused on anything
because it's the customers that's going
[343]
to give you the money
so basically it's for them it's for them
[347]
it's for them
you always have to focus on your
[349]
customers so if you're not focused on
your customers and focus on the value
[353]
and delivering value to them
you're not going to be successful in the
[356]
businesses that you actually do
everything that you do from the pricing
[360]
to the product
range to the opening hours to the colors
[365]
of your display units everything is
about
[368]
value to your customers it should not be
about you it should be about
[372]
them them and them and if you focus on
your customers and finding value
[376]
looking for value find out what they
want you're going to be successful
[379]
because they're going to give you money
now talk about money
[382]
something incredible about value that a
lot of people forget is that
[386]
in people's minds in their minds so it's
not real
[391]
the goods that they're buying from you
have to be worth more
[395]
than the money they're going to give you
that is very important
[399]
it's a mind game the incredible thing is
that
[402]
basically in my mind the cheaper that is
then the quicker i'll buy it so that is
[409]
about value that's about speed and
velocity of sales
[412]
so in people's mind it's worth eighty
dollars and i'm selling it for a hundred
[417]
then i have a problem if in my mind it's
worth sixty dollars
[421]
and it's been sold for thirty i'm very
happy because
[424]
it's half the price of what's in my mind
so i will buy it
[427]
if it's something that i want or
something of value so that's something
[430]
to remember
about value and pricing and all those
[434]
sort of things
so i've covered quite a lot today i hope
[436]
it's been useful if it has been so far
give us a thumbs up
[440]
leave some comments below and you know
this is going to be part of a series
[444]
and if this is the first time that
you've been to our channel then please
[447]
do subscribe what this channel is about
is about helping you
[450]
go further and faster in business and in
life so subscribe
[454]
hit the bell but icon as well so you
actually get notified of every time we
[457]
produce a video
let me finish up with one last little
[460]
story it was actually an
in another food business and it was
[463]
still with my partner masami at the time
and in this case we were actually in
[467]
australia and the business was called
bouncing olive
[469]
and when we first started that business
we were playing around with the value
[472]
and the deliverables it was a brand new
business
[475]
and we decided to go and sell at a
weekend market and we had to think about
[479]
how could we do that and how could we
present the value
[482]
because we were selling rice wraps which
was a simple little dish
[485]
but we wanted to sell it for a high
price so how could we increase the value
[490]
in people's minds even though the
product was very
[492]
cheap and what we did is we put little
pretty hats on we made it all nice and
[496]
colorful the the the stall clean
everywhere everything was meticulous
[501]
you know when somebody looked at our
store this isn't a market
[504]
people were like wow so clean and you
know
[508]
everything was well done have a look at
this picture and you'll see
[511]
how we laid everything out it was very
simple but
[514]
clean and effective so in people's mind
it actually had a high value product we
[519]
put it in a nice little box it was a
beautiful little
[522]
uh japanese asian style box
and people loved it we we sold like a
[528]
thousand or so
in a day and we did that for two days a
[531]
week saturday on sunday
and we saw thousands of those little
[534]
rice wraps
we could have created a business just
[538]
for those it was like so successful
so all that success came from the value
[544]
and understanding the value and
delivering the value
[546]
thinking about what our customers wanted
what would stop them from buying for us
[551]
what would make them buy from us so we
were successful because of that
[555]
so i want you to be successful in
business that's why i'm sharing this
[559]
mini series that's why
exists that's why this channel ubla and
[564]
ript exists
to help you go further and faster in
[567]
business so
my name is david anthony i hope you got
[570]
some value from it today
hit the like button if you have and
[574]
again subscribe if you
haven't and in the description below
[579]
have a look at the next videos we will
update this video when we produce the
[583]
next one it will be out in a few more
days time
[586]
and um check that out and then basically
we'll continue this little
[590]
mini series so thank you very much again
and take care
[602]
bye
[635]
you
Most Recent Videos:
You can go back to the homepage right here: Homepage