10 Reasons Entrepreneur' s Fail

1. They don’t have a clear vision, goals and business plan of where they want to take their business in the future

2. The don’t have systems in their business to ensure that things get done the way they are supposed to

3. They don’t understand the numbers side of their business enough: costing, pricing, profit margins, break-even, ratios, taxes etc

4. They don’t clearly target their market because they don’t know enough about their customers or competitors

5. They don’t differentiate their product or service enough for clients to choose them above their competitors

6. They don’t develop clear marketing plans

7. They often don’t have sufficient cash flow to ensure growth

8. They focus on doing rather than leading

9. They don’t spend enough money on training and developing their staff and themselves

10. They focus too much on revenue, not enough on profit and don’t control expenses

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3 responses to “10 Reasons Entrepreneur' s Fail

  1. Having a clear plan’s really important in starting a business. Some would have the mindset of starting immediately after getting the money. It’s a bold move, but that doesn’t always work; in fact, the chances that it’s going to last that way is slim. Even the agile planners have plans right before they go into a sprint.

    -> Floyd Andrews, Resell SEO

  2. I have to show some thanks to you for baliing me out of this particular crisis. Right after surfing through the search engines and obtaining concepts that were not powerful, I assumed my entire life was over. Being alive without the answers to the issues you have sorted out as a result of this write-up is a serious case, and those that might have adversely affected my career if I hadn’t encountered your blog. Your own personal natural talent and kindness in maneuvering the whole lot was invaluable. I don’t know what I would’ve done if I hadn’t come upon such a solution like this. It’s possible to now look ahead to my future. Thanks very much for this high quality and sensible guide. I won’t think twice to refer your blog to any person who wants and needs guidelines on this issue.

  3. Hey Linda,I just came up with this the other day. Looking at this from a network maiketrng point of view, I’ve come to the conclusion that there is an indicator that will predict a persons success or failure, regardless of any other factor involved.I call it the What are you doing NOW test. At least until I come up with a better name for it. So here goes: Anything you’re not doing in your business while you still have a job, you won’t do after you quit your job. Meaning: If you’re not posting to your social sites every day, if you’re not posting to your blog regularly, if you’re not emailing your list daily, if you’re not on the phone prospecting daily, if you’re not studying sales and phone techniques, guess what?You won’t do it when you’re full-time in your business and you will inevitably fail.My suggestion to anyone contemplating going full-time in their network maiketrng business is this:Take note of what you’re doing. Are you making a list every night of things you must accomplish in your business the following day? Are you prioritizing that list, and resolving to finish those tasks? Are you working as long as it takes regardless of whether you feel like it or are tired? Have you consistently followed your plan for weeks, or better yet months? Are you making progress in your business now, or are you fooling yourself into thinking that when you have all day to work on it THEN you’ll get some momentum going?If you can’t honestly say that all of those things (and probably a few more) are true then YOU ARE NOT READY TO GO FULL-TIME.Keep your job until you have proven to yourself that you have the self-discipline to ensure that you are doing what needs to be done on a daily basis. Believe me, that bank account of yours will dwindle with frightening speed, and mindset won’t refill it. Sure, you gotta have the proper (or at least a success oriented) mindset, but it’s the actions you perform consistently that will determine your level of success.Dave Kotecki recently posted..

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