Failing in business does not necessarily mean you are a failure, and failing severally does not have to end your life in entrepreneurship. Okay let’s back up a little, businesses why do they ever fail? This is a question we ask ourselves more often than not. We however do not wait to get the answer before jumping the wagon and moving on. If we ever stopped for a second and paused, put our brains to work we would know where to look.
At times people start businesses and they do quite well, it becomes there source of pride but after a few months and the novelty of the business wears off, the business begins to go downstream. Every new business comes with psyche and excitement. Once the novelty is over you have to have a clear meaning as to how to keep the customers coming back and satisfied. We fail because we concentrate too much on the excitement of the first days we do not look beyond. When caught up in the first sale we can never look beyond for manners in which we can attract more clients to our business.
From various entrepreneurs it is evident that research is the back bone of any business. A good amount of research will give the entrepreneur basis on what to do and how to go about the venture they are embarking on. One will need to find out the right audience for their product or service, the kind of marketing they should use, and the right location.
Before starting a business, survey and ensure your location is suitable. Don’t sell dolls in a neighborhood that is famous for the elderly you are bound to fail. You also need to know your target customers who are they and where are you likely to find them. Business is all about being informed about knowing who is who in which industry, who to talk to about what, who to speak to, and who to avoid.
Business is like a game of chess, you have to think carefully before moving on to the next step, one wrong step you lose your king but a second wrong step you are at checkmate. Business means you have to look ahead, be sure that you are not in danger not just of losing the pawns, but the bishop, king, and knights. Look ahead, decide whether it is the right time to make the move, step back when necessary and look with a fresh set of eyes. Don’t be at checkmate if you can avoid it.
Getting yourself in the right zone and discover how big your business potential really is.
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