REASONS WHY BUSINESS FAILS

There are many Reasons why business fails, and this is a fundamental knowledge that every business owner must understand and guide against. Every entrepreneur goes into business to offer some kind of services and in return expect to make some profit. However, this is not the case in some business ventures. Statistics shows that every four out of five business fail within their first five years. To unravel the reason behind this dilemma, I have examined the issue critically, and haven being in business for myself for the past 12years, I have been blessed with some wealth of information that has helped me to whether through the storms that usually come to every business.

It is my commitment in this article to excavate the hidden cancer that lies behind every failed business. I want you to read with the mind set of understanding these business killers, and guide against them in your struggle for business relevance and profitability in your chosen field of endeavor. The following are the reasons why business fails:

Wrong business foundations:

The foundation of a building will determine how firm the house will stand in the time of storms and rains. In the same vein, the foundation upon which a business is built will determine the survival of that business. Now, what do I mean by ‘wrong business foundations?’ A wrong business foundation is when the entrepreneur fails to understand what it means to be in business, before launching a business enterprise. Too often many business owners go into business because they see others making money in business. They fail to ask themselves some empirical questions, and find out how the fellow they want to imitate is making his money.  They fail to find out the risk he is taking to establish his name indelibly in the sand of time, how he is copping with competition, what marketing strategies he is employing to stay ahead of competition and capturing an ever increasing market share. Instead of coming to terms in these maters and seeking expert advice, they rush out to establish a venture because they want quick money.

Though they have technical knowledge, and may also be very good at what they are doing. But as good as these are, these alone will not guarantee for success in business. I have seen instances where technically expertise companies starve for contracts while companies with less capacities go home with all the contracts.. That brings me to a fundamental truth, ‘technical knowledge alone does not guarantee business success in a dynamic world’. The fact that a person has technical qualification does not qualify him to be a successful business person. For more details, click on the following links:

Wrong Location

Ignorance of Products Selling Points


Lack of Proper Saving Culture

The Limiting effect of lack of proper saving culture

Lack of proper saving culture is one of the major causes of business failure. Many business owners have a poor saving culture. Every money they make in their business is consumed, and in most cases the money are spent on things that will not bring any increase to the business. Because they spend all the money of the business on things that are not in line with the mandates of the business, the business is sure to fail. Materials and other consumables for the smooth running of the business cannot be bought because adequate provisions were not made for it.

The lack of proper saving culture among business men is a major factor to be highly discouraged if we must make meaningful progress in business. Working capital should always be made available if the business must survive. A business man that has no reserve cannot succeed in business, because when opportunities for his business advancement arrive he will not be able to quickly seize the opportunity. And in most cases where he is able to secure a loan to make good use of a profitable business opportunity, the interest rates and the amount he is expected to remit as an install mental payment of the loan facility will drain him of adequate liquidity to run the business.

I was passing through this dilemma before in my business. I make money but the moneys were going to settle my indebtedness. I was barely able to keep my business going. Many times I thought the business will fail, but suddenly God will create a way of escape for me. And I will survive that stage. That was how I was struggling with my business, until I was able to develop a strong saving culture. I decided one day to keep part of what I made solely for the running of the business. I decided to pay my self and the business first before paying anybody. With this in place I was able to save enough to embark on other profitable business ideas.

If you want your business to succeed, part of what you earn is yours to keep. Part of what you keep should be invested so that it helps to labor vigorously for you and for your business. It is only in this shall you be able to save your business from failing.

Take practical steps to save your business from failing. And one of the most pragmatic ways is to imbibe a strong saving culture. Let nothing on earth move of force you to take this for granted. Let no debt or what is normally called basic necessities deprive you of the application of the common sense of making appropriate savings for your business. You will be able to adequately respond to all these indebtedness and necessities if your business is progressing profitably.


For more information Check out reasons-why-business-fails.

HOW TO CONQUER COMPETITION

Every business is faced with competition. While others are standing at disadvantage position, some are soaring at a vantage position because they know and implement a structure which is entirely peculiar to them. Those with this kind of structure are the ones that stay ahead of competition to capture an ever increasing potential market. They are the ones who know how to conquer competition.

In this article, I am going to introduce you to some basic structural advantage that can make you stand out in business, ministry, profession and or calling. I referred to them as the Supreme Fundamental Intelligence. To completely stay ahead of competition, you must master these supreme competitive advantages. These supreme competive advantages can never be bettered by your competitors, if you protect and nourish them

The Supreme Fundamental Intelligence is as follows:

1.     Knowledge  Intelligence

2.     Understanding Intelligence

3.     Wisdom Intelligence

4.     Marketing Intelligence

5.     Personnel Intelligence

6.     Divine Intelligence

7.     System Intelligence

8.     Financial Intelligence

9.     Social Intelligence

10.                        Legal Intelligence

11.                        Business Intelligence

12.                        Effectiveness Intelligence

13.                        Efficiency Intelligence

14.                        Passion Intelligence.

You may say, ‘Precious, I am unique, and I am not in competition with anybody?’ That sounds great and philosophical, but may I ask you a question? Do you depend on other people’s patronage or recommendation in one way or the other? If your answer to the above is in the affirmative, then you better get your perspective right. Every one of us is in one form of competition or the other. Whether you are a pastor or a business man, a teacher or a professor, we are all trying to be the best in our chosen field of endeavors. We are all trying to outshine others so that we can be given that recognition of relevance. Our entire struggle is focused on trying to assume relevance. We may not want to admit it, but that is the truth.

Whatever you do, if you grow with the mentality of I am not in competition with any body, I want you to realize that the other person may not share the same opinion with you. Therefore, he will put in every effort to stay ahead of you, and where his best surpasses your best, he will inevitably become a winner. Take it or leave it, we are all running a race for relevance, and anyone who runs it well will become recognized and rewarded.

In everything you do, you must know and implement what your fellow competitor does not know, if you must stay ahead of him. It is what you know that your fellow man does not know that puts you ahead of him. And if he gain access to it and implement it in a unique way that produces more result than yours, you will eventually be replaced. Therefore, to stay ahead you must be able to be ahead. Your relevance is directly proportional to the effectiveness and efficiency of your contribution. The day you seize to make meaningful contribution to those whom you rely on their patronage to survive that is the day you lose your value and relevance. The man with the right answer becomes the number one man.

This how ever does not mean that you must stab somebody at the back to take undue advantage of him, but it does mean that you endeavor to be your best and your best must legally and justifiably make you stand out and become preferred in the midst of all your equals. Daniel was selected the best among 120 governors in the land of Babylon who where helping the king to govern the people. He did not assume that position because he lobbied or kill somebody. He was preferred because he had an exceptional quality, the kind and type that the king preferred. These exceptional qualities made him to stand out and become relevant, even in a strange land. When you continue to put in your best in everything you do, you will eventually end up the best!

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DARE TO VENTURE

Yes! You are a wonder, do not live and die a wonderer. Rise up; shake off the shackles of fear from your life. Look at your future and lay hold on it today. Dare to venture into the manifestation of your dream. Do you have a dream but fear stairs you in the face and you are almost concluding you cannot achieve it? Wait a minute….wait a minute …..Wait a minute! You are almost concluding…… you have not concluded yet, but you are almost..

Do not conclude in the wrong direction. Listen, you are too loaded to be conditioned to failure, too divinely packaged to accept humanity deprogramming. There is something in you that are crying for expression. Step out and give it expression so that it will help to give you a place to stand in the platform of extra ordinary achievers. The earnest expectation of creation is to see the manifestation of the sons of God. You cannot afford to fail your generation. You can not afford to fail your creator! You are a royal priest hood, a peculiar personality, a chosen vessel, predestined to show forth the praises of him who created you.

Do not let circumstances stop you. Thank God that you are going through what you are going through now. Look carefully at the pain there is gain in it. There is a miracle in your mess, there is fame in your shame, and there is a lifting up in your casting down. Except a corn of wheat fall to the ground and dies it abides alone, but because it dies he shall produce bountifully. Yes there no gain without pain, there are no triumph without trouble, no crown without a cross. He that fears to carry the cross shall not wear the crown.

Men may have branded you a failure. They may have discouraged you from pursuing your dreams, but I come in the name of the Lord to challenge you to action. In the name that is above every other name Jesus Christ the son of the living God, I command every power that is holding you down to give way. I release divine power to take you to your destiny. Dare to step into your celebration. This is your season of celebration. You may have failed in the past, but do not let that stop you from daring. God does not look into your past to ascertain your future. There is hope for a living tree that is cut down. Though its leaves withers and fall, but at the sent of water it shall spring forth. I do not know you but God knows you. This is the time for you to come forth from that pit of incapacitation. In the name of the resurrected Christ I decree let the water of life give you resurrection power to prevail over everything that is holding you down.

Venture into your destiny. Do not say, ‘I do not have what is required to fulfill my dream. I have no father, no mother, no brother and interested friend. My life is full of one misery or the other; everyone seems to live me to die in my frustration. I cry out, but no one cares. I beckon on them but they all pay deaf ears to my plea. My ugly story is told along the high streets, I have lost my dignity. I have become a laughing stock, no one seems to look at me and see what I am going through. They all expect some thing from me, but care less about my agony. I lay my life for their betterment, but they turn around and stab me at the back. They see me in pain, but they rejoice in my shame. And you are here saying I should dare to venture to success. I have looked to my left, right, back and front with no one ready to help me out.’ Here me, this is just a test and you have just pass the test. Just rise up and put on your dancing shoes, for this is your season of celebration! You may not have any one by your side to make that dream come to life, but dare to venture. For one with God is majority. The God who created you and gave you that dream will surely provide all the aid you need for fulfillment. All he is waiting for is your action to venture into you dream. Envelop yourself with humility to learn from your mistakes, and the strength to rise up again after your few inevitable failures. Keep learning and try to improve yourself, for you are capable of so much, do not limit yourself. Do your best in all you do, the rest is up to God.

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WELCOME TO THE ULTIMATE MULTIVATION PARADISE

This is motivation for Optimum Performance!Everything in this page is motivational. The journey of success is full challenges which one must fearlessly confront, master and utilize for his or her exploit. To soar bravely you need to be properly motivated to cloth your self with self esteem and the required energy to activate your hidden potentials and to achieve what God has created you to achieve. Without proper motivation, success will be denied those who wished for it. The motivation for success is the driving force behind every outstanding accomplishment and excellent lifestyle.

It is my commitment to bring across your way all motivational articles and quotes that is required to adequately motivate you to be that which you were created to be. Let the shackles of mediocrity fall off your feet and let your mind be receptive to the counsel of excellence, and you shall receive motivation for optimum performance.