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Atricle Dump - The 7 Major Reasons Businesses Fail and How to Overcome Them
Brochure design is an important element of the overall small business advertising plan. A well designed brochure is often the first introduction your customer gets to your company. It is important to put some thought and effort into its production. There are some things that can be done to insure a quality brochure.Brochure printing should be done by a company that is experience in producing high quality products. You can review samples of their previous work and even receive suggestions from the staff at the printers for ideas on color and print font. Remember that the printers are the experts on the physical side of the brochure. However, the content needs to be produced by your own company. It is important to get all information correct, and ask to approve the brochure before the work is done.Remember that color is important in making an effective brochure. Sometimes a certain color is associated with your business, or of the type of product being offered by the brochure. Bright colors attract attention, and attention is what your brochure is supposed to attract. Art work is also important to add a little zest to the brochure. It is often a good idea to have a logo of some type. The reason for the logo is to encourage customer recognition of your business. Customers will tend to remember a catchy logo faster than they will remember a name.Coupons are something that also can make a brochure more effective. Everyone likes a deal, and a special sale or reduced price for a certain service will encourage the customer to retain th
We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job, not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.
Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learni
Signs are very important for a business institution as they form an identity for the organization. Business signboards normally confer details relating to the firm's name, address, and phone number.When people are looking out for a sign relating to business purpose they need to consider some important points. In order to get a unique and appropriate business signboard it is important to highlight the nature of the business. Along with the nature, it is also wise to consider the location, which pertains to the location of the main office and its branches, if any. If the business is located in commercial area, it is advised to have a small business board outside the office. Incase the office is located on the streets then larger signboards can be put up to make it visible to people.Corporate businesses generally get bright colored and large boards. The company name and logo is put up on the top of the organization's structure, as it is visible from far off places. Business signs should be artistic enough to attract attention and at the same time provide relevant details of the business enterprise. Since business information is definitive and precise, there are chances that the readers might loose interest mid-way. Hence, the signs should be presented in a way to hold on to the onlookers' interest.Usually, the information on business signboards features the nature of the business and advertises its merits so that others should join their firm. It is a promotional gimmick to enhance its workforce. To accomplish this task, the busin
Nearly 1,000,000 of those remaining will fail within 3 years. Why do so many businesses fail? Many studies show that approximately 98% of all failures occur because of the owners. The other 2% are a result of acts of God. Here are the key reasons and actions owners can take to avoid and overcome business failure:
Reason #1: The owner is not mentally prepared or motivated to run a business. There are three different ways to use your energy, and your physical and mental efforts to earn money. I call them the three "Games of Work.," and they define the types of relationships between people and their work. The rules that players have to follow to succeed for each "Game" are shown below.
1. Bureaucrats,: Do what it takes to protect or expand their position; Will divert responsibility whenever possible, but will take credit for desirable results of others; The success of the organization is secondary to kissing up to those who make decisions about promotions, salaries and job security; Have virtually no control over their job security; And are compensated for basically showing up.
2. Partial Entrepreneurs: Choose to be responsible for work performed or results achieved in their specialized field, but do not want responsibility for the total business. Have more control over their job and its security; And are paid for the specific results they produce. Examples of Partial Entrepreneurs include; commissioned salesmen, multilevel marketing members, franchisees, and real estate agents.
3. Business Owners: Take full responsibility for their business; Are in full control over their job and its security (whether they know it or not); Have no one in the organization to kiss up to; Learn to pass on as much credit as possible; Constantly focus on the success of the business; And are compensated only from the profits of the business.
As you can see, the rules of a Bureaucrat and a Business Owner are completely opposites in all categories, and the Partial Entrepreneur is basically in the middle. The mental effort it takes to convert from Bureaucrat or Partial Entrepreneur to Business Owner is much greater than most people realize. Many business owners never fully make the transition.
Action: Before becoming a business owner in the first place, determine if you truly want and will operate under the Business Owner "Game Rules." If you choose to, do so IMMEDIATELY, and COMPLETELY! To survive, let alone succeed, you must commit to operate under the Business Owner Rules 100%. Otherwise, you should seriously consider playing one of the other "Games of Work" that best suits your desires.
Reason #2: The business owner is unable to operate a business. The success or failure of a business depends on the owner. As the head goes, so goes the body. Running a business is completely different than any other "Game of Work," but, believe it or not, the rules are the same for all types of businesses. Far too many owners fail to take the time and energy to improve their own ability to run their business. This means that they need to grow as a person first and enrich themselves and discover their true passions and priorities to be able to have the maturity, drive, and energy to allow them to manage themselves and a business simultaneously.
Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously, as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers, " and coaches.
Reason #3: The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in. This is rarely true. The fundamentals of owning and operating a business sometimes referred to as the "rules of the game," are rarely taught in the U.S. school system. (See Global Entrepreneurship Monitor, published by Babson College and Kauffman Center for Entrepreneurial Leadership, July, 1999.)
We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job, not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.
Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learnin
All customers want and expect superior customer service, and it is all too important that we give it to them. Otherwise, our competition will.Your customer doesn’t want to be treated like another statistic along an assembly line. They want to be treated with respect. It is very important that your customer realizes just how important their business is to you.Imagine if you were a daily customer at a bank, restaurant, or some other establishment. And every day that you walked in, a sales associate would take care of your business, than hurry you out the door, without so much as a hi, bye, or even making eye contact for that matter.Okay, so you don’t necessarily go to these places to make new friends, but you would think that the experience could be just a little bit positive.Maybe this isn’t enough to make someone take their business elsewhere. However, it just might if they were approached by your competition, and your competition gave them an idea of just how the grass can be greener on the other side, and managed to swipe that customer from you. And if they did, would you even realize it?The most important thing to your customer when doing business is customer service. People want to be treated with respect. They want to be addressed by name, they want their phone calls returned, and they want their problems resolved in a timely fashion.Customer service, believe it or not, is more important to people than the amount of the product, or the over all fees’ they have to pay.So before you discuss pricin
2. Partial Entrepreneurs: Choose to be responsible for work performed or results achieved in their specialized field, but do not want responsibility for the total business. Have more control over their job and its security; And are paid for the specific results they produce. Examples of Partial Entrepreneurs include; commissioned salesmen, multilevel marketing members, franchisees, and real estate agents.
3. Business Owners: Take full responsibility for their business; Are in full control over their job and its security (whether they know it or not); Have no one in the organization to kiss up to; Learn to pass on as much credit as possible; Constantly focus on the success of the business; And are compensated only from the profits of the business.
As you can see, the rules of a Bureaucrat and a Business Owner are completely opposites in all categories, and the Partial Entrepreneur is basically in the middle. The mental effort it takes to convert from Bureaucrat or Partial Entrepreneur to Business Owner is much greater than most people realize. Many business owners never fully make the transition.
Action: Before becoming a business owner in the first place, determine if you truly want and will operate under the Business Owner "Game Rules." If you choose to, do so IMMEDIATELY, and COMPLETELY! To survive, let alone succeed, you must commit to operate under the Business Owner Rules 100%. Otherwise, you should seriously consider playing one of the other "Games of Work" that best suits your desires.
Reason #2: The business owner is unable to operate a business. The success or failure of a business depends on the owner. As the head goes, so goes the body. Running a business is completely different than any other "Game of Work," but, believe it or not, the rules are the same for all types of businesses. Far too many owners fail to take the time and energy to improve their own ability to run their business. This means that they need to grow as a person first and enrich themselves and discover their true passions and priorities to be able to have the maturity, drive, and energy to allow them to manage themselves and a business simultaneously.
Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously, as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers, " and coaches.
Reason #3: The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in. This is rarely true. The fundamentals of owning and operating a business sometimes referred to as the "rules of the game," are rarely taught in the U.S. school system. (See Global Entrepreneurship Monitor, published by Babson College and Kauffman Center for Entrepreneurial Leadership, July, 1999.)
We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job, not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.
Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learni
When it comes to inducting new employees into your business you only get one chance. Get it wrong and you have started to sow the seeds of doubt in the mind of your new starter in the first few weeks.Get it right and it will make a huge difference to how the person settles in. Without being perfectionist, the key is to make sure that every new starter feels excited and positive that they have made the right choice in joining your business. The way to do this is to:1. Get The Practical Stuff Right Make sure you have practical aspects such as a desk, phone and computer ready, with a password. Get their name added to your email system or have a uniform ready for them as appropriate. Will they need business cards? Do they need a key or security pass to access the premises? Having everything ready and organised before they arrive shows you place a high value on the service you provide to your people as well as your customers; something that sets a very good tone with a new starter.2. Have A Plan Make sure there is some form of training/induction plan that is ready before they start. Something you can physically give to them on their first day so that they are clear about what they will be doing over the first few days (or weeks). You may even choose to call them the week before they join to confirm arrangements for the first day and tell them broadly about their induction plan before they have joined - they'll feel less apprehensive about their first day in the new job and feel like a valued employee even before they have joine
Action: Before becoming a business owner in the first place, determine if you truly want and will operate under the Business Owner "Game Rules." If you choose to, do so IMMEDIATELY, and COMPLETELY! To survive, let alone succeed, you must commit to operate under the Business Owner Rules 100%. Otherwise, you should seriously consider playing one of the other "Games of Work" that best suits your desires.
Reason #2: The business owner is unable to operate a business. The success or failure of a business depends on the owner. As the head goes, so goes the body. Running a business is completely different than any other "Game of Work," but, believe it or not, the rules are the same for all types of businesses. Far too many owners fail to take the time and energy to improve their own ability to run their business. This means that they need to grow as a person first and enrich themselves and discover their true passions and priorities to be able to have the maturity, drive, and energy to allow them to manage themselves and a business simultaneously.
Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously, as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers, " and coaches.
Reason #3: The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in. This is rarely true. The fundamentals of owning and operating a business sometimes referred to as the "rules of the game," are rarely taught in the U.S. school system. (See Global Entrepreneurship Monitor, published by Babson College and Kauffman Center for Entrepreneurial Leadership, July, 1999.)
We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job, not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.
Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learni
Finding office machines can be a real problem is the budget is tight. But the problem can be solved when you shop smart. And let’s face it, furnishing an office and finding high quality office machines on budget can be a little bit of a challenge. But with a little more effort, nothing’s impossible. Usually, a cubicle in an office can fully furnished within $6,000...but let’s just say that if you shop smartly, you can get furnishing for each cubicle done for under $3,000! And who doesn’t know you can get office machines from eBay at low prices?First off, determine the space that you have and the budget that you have got to work within. Discuss the style that you want on the furnishings and the kind of office machines that you will need. Once you’ve got that all settled, you’re ready to get going.Now, one way to save cost on furnishing your office is by purchasing used workstations and used office machines. Used furniture is not always drab and dirty. In fact, some used office furniture and office machines are almost brand new. They sell the office machines off cheap. There are tons of used office machines in the market, so, navigate through the flood of used office machines and furniture carefully. Although the price of the used office machines and furniture is of utmost importance, the quality and condition of the office machine and furniture should be taken into serious consideration.Another way to get cheap tasteful office furniture and high quality office machines is to buy refurbished office machines and furniture. Refurbi
Action: You will greatly enhance your chances for success by finding methods of self-improvement in all aspects of running a business, and continue the process throughout your entire business-ownership career. Obviously, as you become better at running your business, the success of your business will also get better. Many resources are available to you, including respected advisors, mentors, partners, "Godfathers, " and coaches.
Reason #3: The business owner thinks he knows what it takes to run a successful business and is convinced he is fully prepared to jump in. This is rarely true. The fundamentals of owning and operating a business sometimes referred to as the "rules of the game," are rarely taught in the U.S. school system. (See Global Entrepreneurship Monitor, published by Babson College and Kauffman Center for Entrepreneurial Leadership, July, 1999.)
We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job, not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.
Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learni
I am a mobile notary. I meet many interesting people and drive through one of the most beautiful areas in the US. After working in law offices for over 20 years, I love working out of my home and car.I travel to people's homes, workplaces, and medical facilities. It is fascinating to see the different ways people live, work, and get care. I have been welcomed into mansions and campers. I have walked through ankle-deep carpet in high-rise offices. I have stood on muddy ground and sworn in construction workers who were perched high above me on roof trusses. I've applied my seal to documents while aboard rocking sailboats.I have witnessed the signatures of happy couples signing adoption papers. I have rushed to deathbed signings of Wills where everyone is quiet and kind. I have cuddled 6-day-old Labrador puppies. I have seen highly improbable hair colors on the heads of toothless women. I have had men insist that I admire framed photos of them holding large dead fish.You cannot beat this work for variety.Most mobile notaries only do work involving home loans. But there are many advantages to developing other types of notary services:*You are paid at the appointment – not by a check in the mail one or two months after the event.*You work from home.*You have the opportunity to help people who have transportation problems, such as the elderly.*You keep busy when home loan work is light.*You have a steadier cash flow.*You meet a wide variety of people.*Work is much mo
We are led to believe that an education fully prepares us for running a business. In truth, the U.S. school system only prepares us to get a job, not create jobs. The fundamentals of successfully owning and operating a business are very different from getting and keeping a job. Unfortunately, most business owners are left to learn these fundamentals through the age-old process of "Trial and Error" with an emphasis on error. This "Trial and Error" dependence causes far too many serious and fatal errors, and leads to stress, financial damage, and eventual failure.
Action: Learn the rules of the game of business, other than through the "Trial and Error" method. The very best way is to find and use trusted mentors, advisors, and/or coaches to guide you through the process of learning how to improve your capability to run your business to avoid the many errors others make. Frankly, the rules are simple, easy to learn, and are based upon common sense, and high integrity
Reason #4: The business owner tries to execute all three of the three basic functions needed for a business to succeed, alone and without help. (See The E Myth Revisited by Michael Gerber). The three key functions a business must have executed to succeed are:
The Technical function, which is the execution of the actual service or product provided by the business. For example the drafting action of a drafting company, the auto repair actions of an auto repair company, the production of a boat of a boat building company.
The Managerial function, which is the organization, coordination, and supervision of the people assets and activity of the business on a day to day basis.
The Visionary function, which is the discovery, setting and communication of the future goals and purposes of the entire business. The leadership to get all parts of the business flowing towards the long term goals established.
The level of success of a business is limited to the level of the execution of the weakest link of the three business functions described. A business that has two of the functions executed in an excellent manner and the other in a poorly manner will eventually level out no higher than poor.
Yet, entrepreneurs (budding business owners) and business owners try to personally perform all three functions themselves. One single person will have an extremely difficult time performing all three functions at a high enough level for the business to eventually succeed.
Michael Jordan, one of the best basketball players of all time, could not translate his huge basketball skills into a successful baseball career. He proved that the skills needed to succeed at the game of baseball are much different from the skills needed to succeed at the game of basketball. And when he returned to basketball, he had to work extra hard to re-sharpen his basketball skills to his previous levels. Likewise, the skills of owning and operating a business are specific and very different than the other two "Games of Work."
Action: Get help from someone, a partner, an employee or an outsourcing resource to perform at least one of the two functions for the business. This way that function can be executed at a very high level and will allow you to focus on executing no more than the other two at a similar high level. Normally entrepreneurs initiate businesses where they bring the technical skills and motivation to the table.
The three skills necessary to win in the business game are: Technical Skills of the business; Managerial Skills to manage yourself, time, things, concepts, and people; and Visionary Skills to set future goals and organize the business so that current activities will contribute to them (See The E Myth Revisited by Michael Gerber).
You probably bring Technical Skills to the table, but to succeed, you will also want to master the Managerial and Visionary Skills. You are not born with these skills; you learn them. You are born with natural talents towards certain skills, but you have to work to perfect them. Michael Jordan, and Tiger Woods were obviously born with unbelievable talents, but they became successful only because they worked very hard at developing the skills they needed to win. Likewise, you will want to work to develop your Management and Visionary Skills (from the Business Owners Perspective) and continue the process throughout your business ownership career.
Reason #5: The owner starts a business for the wrong reason: "No one can boss me around;" Or; "I will create my own job;" "If he/she can be successful, so can I;" "I will buy a business and enjoy the fruits of ownership;" "I want to pursue my passion for serving others." And so on. The stresses and problems resulting from running a business for the wrong reasons can become overwhelming, especially when you generat
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