Over the past couple of weeks, we have looked at the issues of a failing business. Now, let us talk solutions: how do you prevent a business from failing?
Prepare for failure.
Does this sound contradictory in an article on preventing business failures? I think not. Too often, entrepreneurs are so captivated by their ideas that they cannot envision failure. And when it comes, it hits them so hard because they did not expect it. As a result, they are unable to adapt their business planning to the realities of the situation.
Develop a strong business plan
A strong business plan is one that adequately explains the business situation at the time of the business commenced. It articulates how you intend to succeed through your production, marketing, finance, etc., and details what you need to start. It also provides projections on how much you will spend and make over a period of time. Two things to note though: one, a business plan is not static – always review your plan against the realities on ground as
According to the recent statistics reported by Small Business Administration (SBA), about 51 percent small businesses survive in the first year, which means 49 percent fail. If you want to be among the successful percentage of online businesses the following 5 must-know tips for starting an online business would come in very handy.
1. Get A Mentor – do not assume that you know it all, especially if you are running a very successful business offline. The virtual world is far, far different and requires many things to be unlearned and new ones learned. With an expert on board you will get more than tips for starting a business; you will get direction, day-to-day guidance and technical know-how. There are plenty of professional agencies and genuine business beginner’s courses (check reviews carefully before zeroing in on the best choice) that will teach you the ABC of launching and running a business.
2. User Friendly Website -. This is one of the most important among these critical tips for starting an online business. You are starting a new shop and this, in the virtual world is your website. This shop should be attractive and easily navigable so
If your job is becoming more and more stressing and the idea of starting a home business of your own from scratch is scary, then it’s the best time for you to start a home business. But before you jump online you need to know the basics. If you don’t you could end up with a disaster!
I find that most people seem to start trying to make money online the wrong way. When the idea of starting a home business comes up, they leave their day job, get their own dot com, throw up a Web site and start selling anything, and then just sit back and wait for the orders or e-mail to roll in.
Some people believe in some unethical webmasters when they say “if you build it, traffic will automatically come and you will start making money quickly”. If they don’t start making money as promised they give up. They want to make money now, not tomorrow, but now. That is exactly the Wrong way to start.
If it’s easy; why 95% of online marketers fail?
Because they are looking for something that doesn’t exist whish is money over night,
David Lynch created the Quiet Time Program. Yep, that guy – the award-winning director, writer and producer of Eraserhead, Elephant Man, Wild at Heart, Twin Peaks, Blue Velvet. That’s the short list.
This guy is known for his frankly weird films. Now, he’s teaching kids about inner space. He pushes the limits. He has his own vision. He brings it to life.
Sound like anyone you know?
Kind of sums up the entrepreneur experience, right?
Quiet Time integrates the practice of meditation into schools. Two 15-minute periods of meditation each day.
The results have been astonishing. Increased learning, decreased stress and anxiety, much less conflict. More creativity, focus, and confidence.
Sound like something you might want for your business?
An amazing amount of research supports the value of creating space in your day.
Do you have scheduled time to just be in your business day?
It might be time to try it.
Not only does meditation have these benefits, but I know from my own experience and the experiences of my clients that there is even more to be gained.
We all have a deep inner wisdom.