There can be many reasons for this:
It costs 4x the cost of maintaining a customer to replace a customer. It is extremely unlikely that you will retain all of your customers but you need to ensure this is minimised:
You’ve read the stats regarding the cost of staff turnover, and, if you’re reading this, you know the pain unwanted turnover is causing your business. Are any of the following points true for your business?:
Managing the utilisation of your staff is critical to ensure you can deliver on customer commitments and, importantly, to maximise your financial returns and avoid unnecessary hiring.
Have you got regular, accurate reporting that gives you early insight into the health of your business?
Do you understand your cashflow and how long your cash will last?
Do you have lead reporting that gives you a heads up on the challenges ahead?
Do you have confidence in the information you’re getting
Have you got it at hand, can you pull a report quickly
Can you make decisions on the spot because you’re confident in your data?
Is your board reporting simple to produce?
Does it highlight all the elements that a board needs to see?
You are off and running and now need an injection of capital to take your business to the next stage. Do you have everything in place to raise the capital you need?