Business Failure Case Study

748 Words3 Pages
20 Reasons of Your Business Failure
By Richard Nata, Nov 6th, 2015
A person's character determines success in the future, whatever the profession does. Characters inside of an entrepreneur are the main factor that determines the success of a business. Not infrequently, an attempt shuffled because of the owner has characters that do not support the success of the business itself. Fail in business is indeed frightening. It is often said that more than half of new businesses failed on the first year. This opinion is not entirely true. We could not predict a business will succeed or failed. However, we can learn of the mistakes of others who have experienced failure.
1. The lack of clarity business undertaken
Business owners have not yet decided
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We also need to learn to manage your time as effectively as possible.
3. Too many ideas
The businessman who has an idea too much makes confused to choose which one will be realized. It often happens, have too many business ideas makes entrepreneurs do not do anything.
4. Want to succeed quickly
It takes patience and a willingness to undergo a long process before a business entrepreneur produces results.
5. Not spend money wisely
We need to understand the cardinal rule of business. There are times when we spend money to make money.
6. Lack of sales, service and poor relations
A lack of enthusiasm in the sales department is the main factor loosening of sales is one of the main reasons of failure in business.
7. Lack of financial knowledge
Lack the ability or low knowledge of financial statements, business owners do not know how to manage or too busy.
8. Lack of working capital
The working capital that is not sufficient often faced by business owners. Business owners used to be too optimistic and impatient.
9. Do not dare to dream big.
Big dreams are needed to motivate entrepreneurs to achieve success.
10. Negative
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Thus, the entrepreneur is not easy to give up in facing business constraints.
15. Less work hard and work smart
Not all alternatives need to be tried out into the business. Entrepreneurs need to be good at sorting which one the appropriate and not for its business.
16. Forgetting sales strategy
Too much innovation in pre-production stage makes the entrepreneur forget the post-production strategy, such as sales.
17. Lack of planning
Because the plan is weak, the absences of a written business plan both short term and long term. Business owners react continuously, even being overwhelmed with work to be done.
18. Assume that the business needs of higher education
It doesn’t take a college higher degree to have an entrepreneurship. Entrepreneurship is a business field that can be learned from everyday life without a formal education.
19. Poor courage to start
Entrepreneurs who think too much tend to have a lot of consideration. He was too scared to think about the possibilities that will be faced. As a result, the entrepreneur never really starts his business.
20. Product launches on the wrong

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