Business Mentor: Bouncing back from a business failure

Failure in business is not caused by just one person or an overlooked incident. There are many reasons why a business fails.1. The product offered may not be unique. There may be a lot of similar products on the market. To stand out, entrepreneurs must focus on their product can be something that the public will want over competitors.

4. Insufficient capital. You may have a great idea on how to run your business. But if you lack capital, the business may not last. For the initial phase of the business, you need to make sure that you have the means to cover your overhead expenses such as the salary of your employees, store or office lease, taxes, suppliers, etc.

7. Unscrupulous spending. Always remember that your business is not your bank account. Do not overspend by taking out most of the money that your business needs. This is a very common mistake among new entrepreneurs. The moment that their business starts to grow, they hop on to the next plane to Europe. Entrepreneurs who have this mindset will see their business fold after a while.Entrepreneurs are risk-takers. A real entrepreneur does not give up as soon as he encounters a problem.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Mandaue Charter Day, Business Month to highlight public-private partnershipMANDAUE CITY, Philippines — The celebrations for this city’s golden charter anniversary has kicked off with demonstrating ties between the government and the business sector. At 5 p.m. on Thursday, August 1, some 300 employees of the Mandaue City government headed by the city officials gathered at the Mandaue City Heritage Plaza for the human […]
مصدر: cebudailynews - 🏆 8. / 71 اقرأ أكثر »

Gatchalian: PCSO needs to undergo reforms; ‘Cannot be business as usual’Senator Sherwin Gatchalian on Thursday backed the option to reform and privatize the entire operations of the Philippine Charity Sweepstakes Office (PCSO), following the recent anomalies hounding the agency due to reports of “massive corruption”.
مصدر: manilabulletin - 🏆 25. / 51 اقرأ أكثر »