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Wisdom from a small business owner – Why small business ERP is key to your survival

By plrprousers | October 12, 2009

erp for small business

Businesses need efficient process, the focus of leadership and structure that can adapt to enable the business to grow safely as a massive 55% of businesses fail in their first five years of existence. The observers offer useless ‘insight’ as to why this happens. I continuosly observe three key reasons why this tragedy happens so often and to so many individuals with different backgrounds, education and knowledge.

The primary reason is lack of market comprehension.

No foresight. For example People dream up the idea, create the product and then expect the market to come and purchase. In this connected age there is no excuse for lack of research prior to spending any time and money on designing a product until you have solid confirmed there is a market.

The number two reason is lack of understanding of fundamental facts about business.

A significant proportion of people starting a company know their trade, how to deliver a service or manufacture a product, but know very little about running a company.  Being able to read and track the numbers in the Income statement or the balance sheet is an essential skill. The basic knowledge of accounting is not very often imparted well by the business books, internet resources and experts in the know such as CPAs and bookkeepers. The problem is worsened by greedy and short sighted software makers such as Sage software misleading the market by selling only a portion of the functionality actually needed by small businesses.

Small business accounting software isnt a complete answer.

Large enterprises way back worked out that all of their Information systems should be fused together to give them a total view of the business and then along came ERP software solutions and packages. One technology business NetSuite had the vision to see the opening in the market and began offering its small business ERP software. NetSuite competitors have seen the gap as well and as a result lower cost easier to use solutions have emerged.

The last reason businesses don’t make it is a because of the absence of well thought through management processes and policies to enable a sustainable fabric of disciplines and behaviours.