
A Bite of Reality: Why New Businesses Fail
People nod and think they understand this statistic. They think something similar to, "Oh, they just couldn't get enough orders." No. That's a SYMPTOM, not the problem. There's more going on. Such as:
> they never stuck with the idea longer than a few days, weeks or months
> they never learned to deliver a product or service competently
> their family & friends weren't supportive and helped pull the rug out from under them
> they didn't realize sales & marketing were vital, and thought building the better mousetrap would get the world beating a path to their door
> increasing(!) cash flow and management requirements killed the business even though it was growing fast.
There is a lot more going on in a business than newbies and outsiders realize. It can be making money and growing, but if that cashflow is not consistent enough, or rapid growth is leading to process problems, even a business that is getting plenty of orders can die or be shut down by choice. A spouse who's tired of inconsistent revenue even though it evens out to keep everything afloat can kill a business.
A huge difference exists between the newbie's "This is going to be a grand adventure!" and the shortly-realized "OMG I'm going to have to get punched in the face for two years to make this at least START to be successful."
David Hunter | Duke of Marketing
www.DukeOfMarketing.com
www.BibleAndFriendsYouTube.com
"If you think you're the smartest person in the room, then you're probably in the wrong room."
"If you think you're the smartest person in the room, then you're probably in the wrong room."
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Thanks for reading!
Chantal
"Before you try to satisfy the client, understand and satisfy the person."
"If you think you're the smartest person in the room, then you're probably in the wrong room."
www.Trumpia.com
Trumpia: The Most Completed SMS Text Messaging Software & API Solution.
"If you think you're the smartest person in the room, then you're probably in the wrong room."
"If you think you're the smartest person in the room, then you're probably in the wrong room."