Biggest Challenges Faced by Small Businesses Post Pandemics

Updated: May 15

Why 80% of Restaurant Business Failed In First 3-5 years?

The average lifespan of a restaurant is five years and by some estimates, up to 90 percent of new ones fail within the first year. According to research, it shows that if a business is losing loyal customers, fail to get new customers, and lack of top talent, first look to their immediate leader. More than any other single reason, the strong brand is the reason customer retention and grow in that establishment.

Why 80% of Restaurant Business Failed in First 3-5 years?

1. Lack of Leadership

“Who’s in charge or leading this team?” I’d often ask the owner this question. And the answer would normally be “No one”. A workplace is made up of people of different ages, with various profiles and customs. Our moral, ethical standard dictates by our principles. These principles control how we interact with people around us in the workplace. This is exact reason why leadership is essential in organization.

Leaders are someone who deal with emotional and often irrational people who demand attention. Leaders are called upon to be coaches, mentors, and amateur psychologist to keep their staff motivated, focused, and delivering on goals. Leaders are people who can connect and bind people while creating a positive working experience. Leaders must maximize everyone full potential and getting their team in position to win. Leaders are essential to the organization’s productivity, retention, process, and motivation. Without leader in place, your organization is like a ship that simply floating at sea without direction.

"People's first Impression of you, is also their last Impression of you, remember that!"

2. Lack of Advertising and Marketing

Advertising and marketing are both key in establishing your new business's reputation. To appeal more to targeted consumers, marketing must be in place. Marketing main purpose is to match the value your business is creating with the right customers. Developing an effective your online presence, digital marketing to web design is part of your marketing effort. And it’s the only way you can get the attention of your potential buyers. Your brand value should speak to your target market, addressing their specific needs in a language they can relate to. Building a proper online brand presence can increase activity on your page, easier to convert leads into sales, boost the impact of your marketing techniques and it's the best