Hi smart people, howdy? welcome
back with me, Fian, hopefully you always have the abundance of
happiness, health and prosperity, today I would like to share about the
topic “10 reasons why businesses fail”, the reason why I choose that topic because most
people reject to accept failure because their mindset has been trained to
accept a success paradigm from other people who had succeeded in long time ago,
in fact, failure is not kind of humiliation, failure is a gift from God's mercy, the more often people reject to accept failure, the more often people are staying in the misleading course, the reason why I say such thing because some failures are inevitable, if we don't fail, we will never know how to reveal the life's riddle from Almighty God, a failure not only happens at experimental purpose at laboratories, but failure also happens at the businesses, at this moment I would like to share some reasons why businesses fail, here is the first reason why businesses fails because the business owner doesn't want to innovate their product, meaning, people only focus on their past achievement and they are over-optimistic for the future, they assume their product can fulfill the market forever, that's wrong idealism, here is the second reason why businesses fails because the business owner doesn't calculate the tolerance risk which can bring the worse impact, in the business rule, we need to minimize the risk impact by stripping down the product which it is no longer have a fast selling, here is the third reason why businesses fails because the business owner fulfill all customer's expectations, I just want to remind you that not all customer's expectation needs to fulfill, do you know why? because not all customers are responsible for our business's capacity, here is the fourth reason why businesses fails because the business owner want to get benefit quicker than the market's demand, it is absurd, if we want to get benefit quicker than the market's demand, we must become the center of market's demand, it is having irresistible offer, here is the fifth reason why businesses fails because the product can't fulfill the market's demand capacity, if it is happening, we must negotiate with the market demand and we let them know about our capacity.
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| Failure is just part of unfinished journey, not ending process |
Here is the sixth reason why businesses fails because the product can't be integrated with another product in the market's demand, meaning, the product is independent, it can't be used when it is combined with other products, here is the seventh reason why businesses fails because the customer hasn't found the unique in the business idea, based on research, "the customer needs to see the unique from many products in the marketplace", here is the eighth reason why businesses fails because the product can't fulfill the customer's basic need, meaning, the customer doesn't find emotional validation in the product, here is the ninth reason why businesses fails because the business owner doesn't react when the crisis is happening in the internal management, meaning, the business owner doesn't prepare the contingency plan for facing the crisis, it is dangerous thing, here is the tenth reason why businesses fails because the business owner doesn't want to collaborate with small medium enterprise, whether we like it or not, collaboration can minimize the risk and elevate the business acumen when we try to promote the market's campaign in the marketplace, the conclusion is we must be the innovation maker and we must use reality as an eye opener for our ignorance and our weaknesses, the more we improve what we build in the business, the more we elevate our self-awareness in the market, I
think my explanation is enough, hopefully this article can give you an idea how
to improve your life, good luck.