Minnesota has the highest small business first-year failure rate in the nation at 27.7% — a number that makes intentional business-building feel less optional. For entrepreneurs and small business owners in Marshall and across Lyon County, that statistic isn't discouraging; it's a prompt to be deliberate. The businesses that survive — and grow — tend to follow a recognizable set of practices. Here's what they look like in practice.
Build a Brand Identity Worth Remembering
Brand identity is more than a logo — it's the consistent set of values, visuals, and voice that tells customers who you are before you say a word. Businesses that invest early in this clarity attract the right customers and retain them longer.
Start by answering three questions: what do you do, who do you do it for, and why does it matter to this community? Once you have those answers, apply them consistently — your storefront, your social profiles, your email signature, and how your team greets a caller. Inconsistency erodes trust faster than a bad review.
Establish a Real Online Presence
Being online means more than having a website. It means showing up where your customers are looking — search engines, social media, and increasingly, online storefronts.
E-commerce's growing share of retail sales tells the story clearly: it already accounts for roughly one-fifth of all worldwide retail and is projected to reach 22.6% by 2027, according to the U.S. Small Business Administration — meaning businesses without an online sales presence risk being left behind. Even service-based businesses benefit from strong local SEO, a claimed Google Business Profile, and consistent review management.
Invest in Technology That Actually Saves Time
Small business owners often avoid new tools because they seem expensive or complex. But the right technology pays for itself in hours recovered every week.
A good document management system — software that organizes, stores, and retrieves your business files — is one of the highest-leverage investments you can make. When vendor contracts, financial reports, and compliance documents are organized and searchable, you spend less time hunting and more time running your business.
For day-to-day data work, PDF to Excel conversion lets you transform PDF invoices, reports, or financial statements into editable XLSX spreadsheets, making tabular data far easier to manipulate and analyze. Once you've made edits in Excel, you can resave the file as a PDF for sharing or filing.
Bottom line: Technology adoption isn't about chasing trends — it's about removing the friction that slows you down.
Communicate Clearly — With Customers and Your Team
Strong communication is one of those "obvious" practices that most businesses underinvest in. Clear customer communication sets expectations and prevents disputes. Clear internal communication keeps your team aligned and cuts costly mistakes.
A few practices that make a difference:
-
Set response time expectations and stick to them — even an automated acknowledgment builds trust
-
Give employees context behind decisions, not just the "what" but the "why"
-
Ask for feedback in structured ways rather than waiting for problems to surface
Revisit Your Marketing Strategy Regularly
Your marketing plan from a few years ago may not reflect your current customer base, your competitive landscape, or where your audience actually spends time today. Reviewing it annually — or after any major business shift — keeps you from investing in channels that no longer perform.
A practical framework: track where your leads actually come from, cut what isn't working, and double down on what is. The Marshall Area Chamber's Lunch & Learn programs and Marshall Leadership Academy offer structured professional development alongside peers who know this market — worth building into your calendar if you're not already attending.
Keep a Close Eye on Cash Flow
Revenue is vanity; cash is reality. Many profitable businesses fail because money comes in too slowly and goes out too fast. Managing cash flow — the timing of money in versus money out — is a discipline, not a talent.
One often-overlooked place to reclaim cash: your tax strategy. The IRS's 2025 mileage and depreciation rules include a standard business mileage rate of 70 cents per mile and 100% first-year bonus depreciation for qualifying property acquired after January 19, 2025 — deductions many small business owners miss entirely. Review your deductions with a qualified accountant and treat the tax code as a legitimate cash-flow tool, not an annual surprise.
Don't Try to Figure It All Out Alone
This one trips up more experienced owners than you'd expect. The instinct to solve problems independently is often what got you here — but it can cap your growth and extend your blind spots.
The data makes a strong case for outside perspective. According to the U.S. Small Business Administration, mentoring doubles small business survival rates — 70% of businesses that received mentoring survived more than five years, compared to roughly half that rate for those without a mentor. SCORE's 11,000+ volunteer experts provide this mentoring at no cost, and small business owners who reach three or more hours of mentoring report higher revenues and faster growth.
Marshall Has Resources — Use Them
Entrepreneurs here have access to a support network that many business owners in other cities don't. The Marshall Area Chamber of Commerce connects its 580+ members — who collectively employ nearly 10,000 people in Lyon County — through networking, advocacy, and programs designed to support growth at every stage.
For one-on-one guidance, the Southwest Minnesota Small Business Development Center offers no-cost consulting for Marshall entrepreneurs, including capital access support and customized training, funded in part by the U.S. Small Business Administration. Whether you need help stress-testing a business plan or working through a cash flow crunch, the SBDC is a practical first call.
The businesses that endure aren't necessarily the ones with the best ideas — they're the ones that execute deliberately, adapt continuously, and use every resource available to them. In Marshall, those resources are here.
