Thursday, July 31, 2008

Five Reasons People Fail in Business

. Thursday, July 31, 2008

Why do people fail when trying to start their own business? I have listed five reasons. First, they have no plan. Second, they put things off-procrastination. Third, the learning curve, and forth is their marketing approach, and fifth support.

They have no plan. We think we want something. We see someone we know with successful business, it we see someone who we admire with one too. We think wouldn't that be great? I could be my own boss, set my own hours, because they have no plan, they don't realize how much work is involved. We all know the old saying: "Failure to plan is a plan to fail." Get yourself a good plan of action, make several plans, and then work the plans. Start with setting some goals. There are some great books out there to help with this. Do the exercises.

Second: Let us talk of procrastination. This is my game killer. "Oh, I'll do it tomorrow" and guess what many tomorrows roll around and you haven't done a thing. This is one nasty habit. You can have all the plans in the world, but nothing is going to happen until you actually work those plans. Somewhere in my library, is a copy of "Stop Procrastinating." My copy is more than 20 years old and well worth it.

How much is there to learn about running a business and making it successful?-Oy. A lot. Walk into your local Barnes and Nobles and you will see hundreds of books on business, check out your local college, and there are dozens of classes to take. Do a search on Google for business, and well.... You know literally thousands of hits. You stand there asking yourself now where do I begin? You will always be learning. Even a temporary setback is an opportunity to learn. Don't give up.

Fourth, marketing fiascoes- How many businesses do you know that are truly successful that can sell ice cubes to Eskimos? Now sell ice cubes in Miami on a hot summer day. You have to know your market, and you have to know your product. Another big problem, is advertising, where, when how, internet newspaper, both, how much to spend? Do you write your own ads? Or hire someone? And how do you know that the person you just hired has your best interests in mind? Another book... Guerilla Marketing or maybe one of Mark Joyner's "The Irresistible Offer.

This brings me to my last point. Support... I don't anyone is truly successful unless they have the support they need. I mean the support of your family, friends, and staff. If you have support, you can conquer the world. There are great books here too, from spiritual to well everything in between, but the best support comes from those that love you.


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