Market changes and so should you Someone truly said– “The only constant thing is CHANGE”. And when it comes to the market, probably, it is the fastest-changing thing which people have to deal with. But, we human beings, are programmed to resist any change. This is our one security alarm or a part of our …
Never select staff out of desperation. Poor staff selection or poor staff retention reflects nothing but a careless attitude towards your business and that’s not a healthy practice. Many times, out of desperation when their business is booming and producing massive profits business owners pick up the first person they find interesting without even considering …
No. #9 Key Reason Why Businesses Fail: Poor Staff Selection or Poor Staff Retention Read More »
Not following up with your client is a bad practice. If I’ve to rate these reasons on a scale of zero to lame, this one would be the latest. We have zero-tolerance for such bad practices and anyone not looking after the client. The client is the very reason why your business development rate is …
No. #8 Key Reason Why Businesses Fail: Not Looking After Your Clients Read More »
Acting emotionally can cost a fortune! I see many business owners who let their emotions dominate and drive their business decisions and it is not a healthy practice. Business is all about making hard choices, and those choices should be based on facts and figures. Rationality and practicality are supposed to be two founding pillars …
No. #7 Key Reason Why Businesses Fail: Not Understanding Numbers Read More »
Insufficient funding – Business shuts down Insufficient funding is probably the fatal reason why businesses collapse and you don’t see any results in business. Running out of capital, reaching the funding limit, and excessive mismanagement of funds can create serious problems for your business. So what can you do to avoid the situation of insufficient …
No. #6 Key Reason Why Businesses Fail: Negative Cash Flow Read More »
Is your marketing multi-directional? There is no doubt that a number of clients determine the success and growth rate of your business development. If not for your clientele, how will a business owner even generate revenue? Being short of clients is one of the major problems why businesses fail, for the business soon runs out …
No. #5 Key Reason Why Businesses Fail: Insufficient Clientele Read More »
Ignoring Partners’ Past Track Record. This key reason is one of the interesting reasons because many-a-times it is a partner with evil intentions to engulf your entire business. So what I suggest you when entering into a partnership with someone, run a deep and thorough scan of their past records because that will tell you …
No. #4 Key Reason Why Businesses Fail: Bad Partnership Read More »
An overview Business owners like you and me, who are accountable for each and every action at the firm, are the most lethal weapon. A business owner can either drive the business to outreach its maximum potential and generate massive results or he can adversely drown the business to the deepest of the oceans from …
No. #3 Key Reason Why Businesses Fail: Business Owner Himself Read More »
Failing to understand the market, inadequate research. It is quite possible that you have a groundbreaking idea, and that is what entrepreneurship starts with. Think of any great entrepreneur like the co-founder of Facebook Mark Zuckerberg, he had an idea to socially connect people. Almost all the great discoveries are a result of one simple …
No. #2 Key Reason Why Businesses Fail: Not Being Able To Understand The Industry Read More »
You’re accountable for everything you create. You can’t ignore that If you’re an entrepreneur you should realize the significance of your own presence and by presence I mean you being there for your company during difficult times. One of the prime reasons why people fail to get hold of their business is that they create …
No. #1 Key Reason Why Businesses Fail: Making too many excuses and not taking any action Read More »
