Startups reveal first year teething issues
According to a survey of 2,000 small business owners, who have successfully been in business for over five years, over a quarter (27%) revealed that IT issues were the biggest hindrance of the first year, followed by pricing (23%) and decisions on personnel (18%).
The timing of a business is also crucial, with nearly half (47%) stating that they wish they had started their business over a year earlier.
Startups are also spending a significant amount on outsourcing and external consultants – averaging £22,450 a year. The Scots are outsourcing the least with an average of £18,750, compared to their counterparts in the East of England, who are spending £25,420. Despite these high figures, over two in five (42%) business founders state that, if they could turn back time, they would have outsourced more.
Shaun Thomson, CEO of Sandler Training (UK), commented, “This insight on outsourcing is indicative of businesses that have what it takes to be successful and play to their strengths. Business skills are not innate. By trying to do it all, you can stall the growth of your business and worse, make some very costly mistakes. It’s best that you focus on your strengths and outsource the areas of weakness – whether its IT, marketing, sales or accounting.”
Sandler Training is a sales, management and leadership training organisation, with 30 centres of excellence across the country. The Sandler method uses non-traditional, disruptive methods Sandler gives busy entrepreneurs the freedom to change on a personal and professional level.
Sandler Training in the UK is part of a global organisation with over 40 years’ experience its headquarters are in Baltimore, Maryland, USA.