Vectors and 3D Models
Local Search - Business
Weather Information
Get the App for Smartphones and Tablets

Go Back


WhmSoft Free Articles Directory
Free Articles for Reprint
Free Articles to Publish
Free Articles for Newsletters
Videos to Watch


Page Generation Date and Time:
09/25/2017 08:19:25

 
Free the Animation VR / AR
Play to reveal 3D images and 3D models!
   
 
vlrPhone / vlrFilter
Project of very low consumption, radiation and bitrate softphones, with the support of the spatial audio, of the frequency shifts and of the ultrasonic communications / Multifunction Audio Filter with Remote Control!



 
 
Alexa Data
 

Go To Articles Directory Home Page

To get the current article, - See Below (at the bottom of the page) -.
For top news titles, see below.
Web sites and videos listed in this page are frequently updated.
If you find that this page is useful (quality of web sites, images and videos, ...), you can add it to your favorites.
Bookmark Page !

Tell a Friend:



With your mobile phone (WAP / I-Mode / iPhone / PDA), for free:
The Top News - http://www.whmsoft.net/services/wap/news.php
The Daily Files - http://www.whmsoft.net/services/wap/get.php
All the Directory Files - http://www.whmsoft.net/services/wap/choose.php

Web version of feeds:
Podcast Music - http://www.whmsoft.net/services/web/wpodcast.php
Daily Files - http://www.whmsoft.net/services/web/wget.php

You can play the Guitar Drum Revolution game (flash game) by following the link below:
Play Guitar Drum Revolution Game


You can play free online games (flash games) by following the link below:
Free Online Games

Play the samples below:
GladiatorRacingtrackUnited We DanceDora PuzzleSnowy Puzzle Islands

You can view the people (celebrities) news and the front page news (with videos, images and constant updates) by following the link below:
View Recent News
or by visiting the WhmSoft Service blog:
News Photos Slideshows


Article Keyword Videos to Watch
Business
Click on the image to start the video.



Related Topics
Images - Links - Articles

Chicago


Related Images



Article Category Videos to Watch
Business
Go to the Videos Pages


Operator Error Is Why Most Businesses Fail

Q: I am thinking about starting my own business, but statistics show that most new businesses fail. Why do you think most businesses fail?

A: This is the column that probably gets me kicked out of the entrepreneurial chapter of the Priory of Scion. I look silly in those long robes anyway, so here goes.

A thousand apologies to my entrepreneurial brothers and sisters, but. I think the more important question is: do businesses fail or does the entrepreneur in charge of them fail? I have to be honest and tell you that I think most business failures must be laid at the feet of the person in charge.

Sure, there may be contributing factors to the demise of a business, such as a huge chain store moving in next door, a down economy, the lack of qualified employees, new government regulations, the failure of a strategic partner, etc., but any entrepreneur worth his salt should see such things coming and make adjustments to weather the storm.

And the truth is sometimes the storm canít be weathered and you have to abandon ship. Is that a business failure or an entrepreneurial failure? I think the coin flips both ways.

Starting a business is never easy and the fact is approximately half of all small businesses fail within the first four years, with a large percentage of those failures occurring in year one.

There are many reasons why businesses fail, but according to a 2003 survey by U.S. Bank, the majority of business failures can be attributed to three reasons: bad management, bad financial planning, and bad marketing.

The survey showed that seventy-eight percent of the business failures examined were due in part to the lack of a well-developed business plan and a business owner who had no business being in the business he was in.

In other words, the business owner did not have the adequate knowledge or a thorough understanding of the business he had chosen to start. This is why software entrepreneurs like me donít start shoe stores. I have feet, I wear shoes, but thatís not enough to qualify me to go into the shoe business.

Seventy-three percent of the businesses surveyed were also managed by owners with rose colored calculators. These optimistic entrepreneurs over-estimated revenue and under-estimated cost.

Seventy percent of the failed businesses were led by entrepreneurs who were in denial regarding their own competence, or more to the point, their own incompetence. These business owners either didnít recognize (or more likely chose to ignore) their own entrepreneurial shortcomings. These entrepreneurs also did not seek assistance from others who might have made up for their inadequacies. Itís hard to ask for help when you are supposed to be the one with all the answers. Itís harder still to lose your life savings when your business tanks.

The final contributing factor to the death of sixty-three percent of the businesses who died from bad management was that the owners had no relevant or applicable business experience. Just because you eat at McDonaldís does not mean youíre qualified to manage one.

Bad financial planning was the second reason why most businesses fail. According to the study, eighty-two percent of the business failures studied reported poor cash flow management as a contributing factor to the death of the business.

Seventy-nine percent of the businesses were inadequately funded to begin with and seventy-seven percent miscalculated the cost of doing business. In other words, they failed to take into account all of the costs involved when setting the price for their products.

Bad marketing was a contributing factor in the death of sixty-four percent of the businesses surveyed. Many of these misguided entrepreneurs either minimized the importance of marketing and promotion or ignored it totally.

A vital part of marketing is knowing who your competition is and always knowing what they are up to. The entrepreneur who ignores his competition is a fool (gee, was that too harsh?) and is always destined to fail, as proven by the fifty-five percent of the dead businesses in the survey who either didnít even know who their competition was or simply chose to ignore the competition altogether.

Hereís a nice hole in the sand for you, sir. Please insert your headÖ

Another mistake made by forty-seven percent of the deceased businesses was that they relied on just one or two customers for the bulk of revenues. This is a common mistake made by many business owners who devote all their energy to one huge client. What they donít seem to understand is that if that one customer goes away, so does most of their revenue.

Moral to the story: before diving in you should know the industry, know the market, and know the competition. You should also leave your ego at home, ask for help when you need it, be realistic with the finances, and go out of your way to tell every person on the planet about your product.

Will that guarantee the success of your business?

Not at all, but it sure canít hurt.

Hereís to your success.

Tim Knox


About the Author: Tim Knox
Entrepreneur, Author, Speaker
Tim Knox is a nationally-known small business expert who writes and
speaks
frequently on the topic.
For more information or to contact Tim please visit one of his sites
below.
http://www.dropshipwholesale.net
http://www.smallbusinessqa.com
http://www.timknox.com




Recommended Web Site(s):

Easy Articles Home Page - Articles Directory

Recommended WhmSoft Web Sites, Feeds and WAP Address:

WhmSoft Software Home Page - Software
WhmSoft Services Login Page - Music and Images
WhmSoft Moblog Home Page - Blog - Photo Gallery
WhmSoft Free Online Games Home Page - Flash Games
WhmSoft Services RSS Feed - Daily Music, Image and 3D Flash Animation
Classical Music with Drum RSS Feed - MIDI and MP3 Files
Classical Music with Drum Podcast Feed - MP3 and MP3 Files
WAP / I-Mode / PDAs - Daily Music, Image and Flash Animation

Home Pages:

WhmSoft Free Articles for Reprint Home Page
WhmSoft Services Home Page - Music and Images
Copyright (C) 2006-2017 WhmSoft - All Rights Reserved.