The stories of the new business ventures are filled with both triumph and disaster. Of unlikely heroes, of monsters that need to be vanquished and, hopefully, the fairy tale ending. Although, statistically, that particular ending is not that often.
So why do businesses fail? Here are a few areas you may like to think about.
No 1 reason is not understanding what their customer really wants and how you can add value to that need. Without having a product that people really want and access to the resources to make it work profitably there is no business.
No 2 is business plans that are too detailed too early.
No 3 is a real appreciation that no previous boss, no matter how bad, will be as demanding as the bosses you will face minute by minute, your customers, your spouse and significant others, and probably most of all, your own standards.
No 4. is focus. Keeping on doing what you need to do when you need to do it and not being distracted by other opportunities.
No 5 a lack of mentoring and open mindedness to receiving advice. The beauty of advice is you can choose to us it or loose it.
No 6. Developing patience as a skill set and end in itself.
no 7. No matter what business you are in you really are not in the business you are think you are in but in the business of marketing that business, first and foremost.
No 8 Thinking that there is such a thing as free marketing.
No 9 Not understanding that marketing is about every interaction you have with your customer.
But above all I would say it is this final one, because until you have that you cannot hope to tell the your customers why you are different and why they should trust you to solve their problem: and then, ask them to buy and to keep on buying
No 10 Crafting the right stories to tell and telling them with clarity
No comments:
Post a Comment