In the beginning of the road, it’s hard to anticipate the risks so the way to avoid mistakes is to learn from the failures of others, here are nine possible reasons that will cause your business to disappear after 2 Founded year.
- Not good enough:
Good at here is the general assessment of your skills: Marketing, Sale, Organization, Leadership, External Relations … => The good people still fail so much that they are young, not good do not dream success.
- Startup alone
No matter how good you are, you can not build a castle for yourself. I used to think that one man can create his ambition, but that’s not the case. The daily time is only 24 hours, although good to the earthquake level will not pass the limited time and health.
- Not enough experience:
Starting a business if you have not thoroughly explored the issues related to your business is very dangerous: business is real money, not draft, wrong is to lose money is synonymous with bankruptcy. These related issues include: law, accounting, grasping of distribution processes, advertising channels, building business support relationships, etc. Find yourself a lighthouse to follow.
- Choose inappropriate products:
To start a business we should choose a product that has one of the following: a reputable supplier, a long product life cycle, high demand, high profit margins, monopoly is also good. If you do not have the above elements you will move on to another product or service you will lose the original time.
For you to distribute grocery, consumer goods, the only difference is that select groups of products and services only. Choosing a service product for a lifetime of new business is the smartest. Of course, the passion factor, talent is an important factor to choose but not necessarily the final decision. Sometimes we are forced to do things we do not like to achieve success in our careers.
- Start without market research:
Trade any product can become millionaires and vice versa, as well as trading small products worth a few hundred dollars is enough for you to bankrupt. Beginners often have subjective opinions and feedbacks about the product or service they intend to do business: good prices, quality products … and sometimes the supplier also has debts.
Let’s focus on the following issues: industry, competitors, alternative products and services … You are better off than retailers, Is the other manufacturers. Equalize the SWOT chart (strengths, weaknesses, opportunities, challenges).
- Choose the wrong parters :
Surely you have witnessed many companies disbanded because co-founders dissent … When new people are enthusiastic but if not the ones that really fit you, the conflicts directly affected to the business model is of course a thing.
And when you choose who to start you should choose the following factors: look at common work as passionate, sure and responsible people, who have good qualifications in a certain field (each field Just choose one person, the strongest one, the best one, the best diplomat …), the top priority is that he or she must have virtue. Choose your best companion because it is your future ….
- Activity without procedure:
When there is no process, everything is messy, it takes a lot of time and it takes you away to do nothing else. Learn the process, the paradigm of market-leading rivals, or simply your better competitors to learn and improve processes.
- Activity without vision:
When your model is only 5 – 10 people, it is simple, but if there are more customers your machine swells to 30 people. Then if you do not have the foresight and long-term strategies, then you will also be in the situation: 1 is not great, 2 is the horse fell. If there are live hard and soon disbanded. For a service product to survive, we have to be important to building and developing.
- Lack of discipline:
This look may not be worth it, but I bet it will affect at least 30% on your success. All the efforts of individual excellence in your machine is only limited. A good apparatus is to have good collective, collective will be good when collective consciousness is good. At work without discipline everything will not be perfect. Human nature is lazy and self-interested, do not let them into the framework that they will be missed immediately. Those who have no discipline can never work great …