Introduction
- You want grow your business fast?
- You wan to your business never fail?
Follow 36 tips and save your business from failure
# 1: Building Something That People Don't Need
Sometime entrepreneurs make a products /services that has no demand in the market and due this their business is fail.
So, always make a products / services according to requirement of people.
#2 : Hiring Poorly or Not The Right Team
If your team does not have good people then your business can't succeed.
So, hire always good manpower.
# 3: Lack of Focus
Sometimes we are focus on too much work, make too many product and also go in too many market and due to this we don't focus on right work, right product and right market.
So, always focus on right work, right product and right market.
Complete focus on your core business.
# 4: Stuck in Legal Issues
Do not follow of legal issues
- Compliances
- Certifications
- Trademark
- Papers
- Contract etc.
# 5: Failure to Execute Sales & Marketing
If you don't apply right scheme & strategy of sales and marketing in your business then, do not possible grow of business.
- Good marketing strategy.
- Good ad campaign.
- Right platform of advertising etc.
# 6: Bad Location
Never start your business at expensive location, it means where office rent is more, because it is effect on your profit & loss account.
# 7: Not Having Right Partners or Co-Founders
When you don't start your business with right partners then, your business can never be successful.
Your partners does not do the same thing that you do.
# 8: Cash Burn or not Been Able to Raise Money
Your money is spent quickly and you not received in starting.
Do not fund raising.
# 9: Not Learning From Your Failure
When you don't learning from your failure then, may be you repeat same mistake and due to this your business can never be successful.
So, always learn from your mistake and correct them.
# 10: Lack of Planning
When you start your without planning then your business can never be grow.
- Marketing planning
- Hiring
- Legal
- Financial
- Customer
- Trainer etc.
# 11: Raising Too Much Money
Sometimes you raise too much money and spent in unnecessary use.
# 12: Getting Out competed
You create a product / service that everyone can easily copy.
It may be disturb your market.
# 13: Chasing Investor Not User
Sometimes maximum entrepreneur run behind investors and due to this he/she leave your users.
# 14: Leadership & Strategy Failure
Do not make good business strategy for your business.
# 15: Wrong Partners & Alliances
- Investors
- Suppliers
- Vendors
- Partners
- Cross-Promotion Partners
# 16: No Differentiation
What is you have different from others.
# 17: Wrong Business Model
When your business model is not good then your business cab never successful.
- Marketing strategy
- Working process
- Customer segment
- Key activities
- Costs
- Key Resources
- Revenue
# 18: Revenue Model
What is income source in your business.
Where money come from in your business.
# 19: Overexpansion
Expansion without right margin is commiting suicide.
# 20: Bad Debts
# 21: Macroeconomic Factors
- Earthquake
- Corona Virus etc.
# 22: Slow Execution
# 23: Wrong Target and Positioning
# 24: Premature Scaling
Without coming right time and you start advertising and expansion.
# 25: Ignoring Users Feedback
You do not make a method or platform where customers give feedback about your company or product.
# 26: Lack Of Profit or Cash
Delay of payment.
# 27: Wrong Time to Market
When your business timing is not good and you lunch your product.
# 28: Inadequate Inventory Management
Keep unnecessary inventory.
# 29: No Passion
You started a business that was not your passion.
# 30: Scaling Without Technology
Nowadays you can not grow or expand your business without technology.
Do not need open more office's.
# 31: Personal Use of Business Fund
You take loan from bank and spent in your personal use, this is wrong way of using business fund.
# 32: No Succession Planning
How can you run your business without of your presence.
# 33:Failure to Identify Opportunity Gap
Identify gap in market and full fill them.
# 34: Bad Product Experience
Do not repeat customers.
# 35: Un-Trained or Disharmonious Team Members
When you don't build good relationship with / in between your team members then not possible good performance in your company.
Ultimately your team is grow you.
# 36: Long Term Value of Customer
When any customers buy product from you then that customers again buy from you.
- Repeat customers.
- Recurring revenue.
- Passive income.
When you all 36 tips correct in your business then you can easily make successful of your business
“Entrepreneur is someone who has a vision for something and a want to create.”
“If you’re passionate about something and you work smart, then I think you will be successful.”
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