Episode 33. The numbers behind why you should think: Profit First! with Rocky Lalvani

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  • Episode 33. The numbers behind why you should think: Profit First! with Rocky Lalvani

Unlock the power of data-driven decision-making for your business. Dive deep into these pivotal statistics to guide your strategic planning.

Watch "The numbers behind why you should think: Profit First!

 on BBSE

Listen to business experts and the blinds spots they see.
Hear the blind spots and understand how, through data and analytics, you can eliminate those blind spots.

Podcast Bullet points

  1. 80% of Small Businesses Fail Due to Cash Flow Problems: A study by U.S. Bank reveals that four out of five small businesses don't survive past the five-year mark, primarily due to issues with cash flow. This statistic underscores the critical importance of adopting a profit-first mentality to ensure business longevity.
  2. 45% of Businesses Fail in the First 5 Years: According to data from the U.S. Bureau of Labor Statistics, nearly half of all businesses close within five years of starting. This rate points to the necessity of strategic planning and financial management from the get-go.
  3. 50-70% of Marketing Budgets Go to Waste: A report by the Fournaise Marketing Group suggests that a substantial portion of marketing budgets are not utilized effectively, leading to wasted resources and poor ROI. Implementing data-driven decision-making can help allocate marketing budgets more efficiently.
  4. $3.1 Billion Spent on Ineffective Training in 2019: According to Training Magazine, companies in the U.S. spent billions on training programs that failed to deliver expected results. This spending highlights the need for a more focused and practical approach to employee development.
  5. 53% of Businesses Use Content Marketing to Drive Sales: A study by the Content Marketing Institute shows that over half of businesses use content marketing as a core sales strategy. Given that you're interested in blog posting, article writing, and social media content creation, this statistic may underline the effectiveness of these activities in today's business environment.
  6. 32% Increase in Conversion Rates via Personalized Marketing: According to an Econsultancy report, personalization can lead to a significant increase in conversion rates. Businesses employing personalized marketing strategies generally outperform those who do not.
  7. 60% of Businesses Use Video Content in Marketing: According to HubSpot, a majority of businesses.