Business failure among small-scale entrepreneurs

[BenCodie]

These are all good points in the OP and coupable also makes a very valid point:

Some new business lack the sales of goods or product and nothing kills a new business than not meeting its sales goals. Lack of proper investment in a business kills the business also, some people lack the idea of investing more on their business,

a business's success heavily relies on its sales performance. New businesses often struggle with generating sales, which can be detrimental to their survival. In addition to sales, proper investment is equally crucial for a business to thrive. Many entrepreneurs underestimate the importance of investing in their business, which can hinder growth and sustainability. Prioritizing sales strategies and allocating sufficient resources to enhance product/service offerings are vital steps for ensuring a new business's success. It's essential to understand the significance of both sales and investment in building a thriving and profitable business.

It takes meticulous planning and dedicated execution to be able to make a business succeed. The economic environment also plays a role in the initial acceptance from the target market. If it's not a good time to by anything, it's hard for a new product be tried without any kind of backing or review, people and businesses take less risks.

I am yet to find a forum or a place where people can discuss what takes successful business execution. I think the major problem here is that there isn't an active forum that cultivated a community quick enough. Someone should compile resources into a thread in this board.

[1714481943]

1714481943

[ndutndut]

A motivator once said, "That in a business, when you fall five times then make sure that you will get up for the sixth time." That's for people who are born into families that are capable and well-off, because they always have the capital to get up again. Whereas when the fallen are small-scale entrepreneurs, who rely on their business as a way to survive and to make ends meet, it is very difficult for them to get back on their feet when they go bankrupt. Because they no longer have enough capital to start their business again.

But if we just stand by without making an effort to get things back on track, and despair over all that has happened to us. Then what are we living for in this world. Because this world is a place to try, and nothing is impossible for those who want and always try. Indeed, opportunities do not come twice, but opportunities always come to those who are always willing to try and try. Because what is called misery is not destiny, but it is the result of laziness within ourselves.

Yes, I agree. A true businessman is when he falls he can get back up. Every human being has a different mindset. Because mindset plays a very important role in achieving our goal, namely success. If we have experienced failure before, don't give up easily, because everything can still be tried again.

It is indeed difficult for those who do not have capital to get up, unlike those who are rich, when they go bankrupt they can easily rebuild a new business. but each of us must keep trying and not give up easily. Because everything has a way if we have the will. Therefore, continue to think positively, think optimistically, stay enthusiastic, we can definitely get through everything.

[moneystery]

mismanagement of funds and wrong expectations are two things that i think often kill businesses.

when a business mismanages their money and tends to burn their money on things that are not really important, they have dug their own grave. because managing money is related to business sustainability and when companies mismanage their money it will threaten their operational activities and reduce the trust of their investors.

and when companies cannot predict market expectations when they have poured a lot of money into the plan, it means they are counting the time to go bankrupt. capturing what potential customers expect is the most important thing for a business, so that when they launch a product or service it will immediately be captured by potential customers which can improve their brand in the market.

[Fatunad]

These are all good points in the OP and coupable also makes a very valid point:

Some new business lack the sales of goods or product and nothing kills a new business than not meeting its sales goals. Lack of proper investment in a business kills the business also, some people lack the idea of investing more on their business,

a business's success heavily relies on its sales performance. New businesses often struggle with generating sales, which can be detrimental to their survival. In addition to sales, proper investment is equally crucial for a business to thrive. Many entrepreneurs underestimate the importance of investing in their business, which can hinder growth and sustainability. Prioritizing sales strategies and allocating sufficient resources to enhance product/service offerings are vital steps for ensuring a new business's success. It's essential to understand the significance of both sales and investment in building a thriving and profitable business.

It takes meticulous planning and dedicated execution to be able to make a business succeed. The economic environment also plays a role in the initial acceptance from the target market. If it's not a good time to by anything, it's hard for a new product be tried without any kind of backing or review, people and businesses take less risks.

I am yet to find a forum or a place where people can discuss what takes successful business execution. I think the major problem here is that there isn't an active forum that cultivated a community quick enough. Someone should compile resources into a thread in this board.

For those who are just totally noob or new into this venture on trying out to make some business then they would really be sharing up with the same perceptions and beliefs that they do have in mind which is actually not that right or simply being wrong. They would normally be thinking or having these impressions on the ff;

1. Easy success
2. Easy to manage
3. Easy to control
4. Easy positive results
5. Easy progress
6. Easy problem handling
7. Easy profits

Once you do able to step your foot into this market then it would really be just that too damn hard to make yourself even getting with your first costumer specially if you are making a business.
You would really be able to realize it along the way considering that competition is high and handling out business related problems like management and fund planning would really be
that pain in the ass and not something simple that you could really be able to deal with.

[Lorence.xD]

Some new business lack the sales of goods or product and nothing kills a new business than not meeting its sales goals. Lack of proper investment in a business kills the business also, some people lack the idea of investing more on their business,

a business's success heavily relies on its sales performance. New businesses often struggle with generating sales, which can be detrimental to their survival. In addition to sales, proper investment is equally crucial for a business to thrive. Many entrepreneurs underestimate the importance of investing in their business, which can hinder growth and sustainability. Prioritizing sales strategies and allocating sufficient resources to enhance product/service offerings are vital steps for ensuring a new business's success. It's essential to understand the significance of both sales and investment in building a thriving and profitable business.

Is true that sales are one of the factors of an investor's success, that is where the business basis if they should continue their business, cause some businesses despite having a plan it doesn't have any sales then it would be hard to recover resources as you get the capital from your funds again. Even starter businesses take advantage of using sales to have enough funds to upgrade their business, which the customer likes as they can see the improvement from the start of their product. People should not be afraid to risk on their first product as they can gather reviews for them to improve, remember that every business starts from scratch having a small fund and small sales as well. Plus there are already many ways to improve sales with the help of the internet, just take advantage of every resource you have.

[coupable]

Some new business lack the sales of goods or product and nothing kills a new business than not meeting its sales goals. Lack of proper investment in a business kills the business also, some people lack the idea of investing more on their business,

a business's success heavily relies on its sales performance. New businesses often struggle with generating sales, which can be detrimental to their survival. In addition to sales, proper investment is equally crucial for a business to thrive. Many entrepreneurs underestimate the importance of investing in their business, which can hinder growth and sustainability. Prioritizing sales strategies and allocating sufficient resources to enhance product/service offerings are vital steps for ensuring a new business's success. It's essential to understand the significance of both sales and investment in building a thriving and profitable business.

Is true that sales are one of the factors of an investor's success, that is where the business basis if they should continue their business, cause some businesses despite having a plan it doesn't have any sales then it would be hard to recover resources as you get the capital from your funds again. Even starter businesses take advantage of using sales to have enough funds to upgrade their business, which the customer likes as they can see the improvement from the start of their product. People should not be afraid to risk on their first product as they can gather reviews for them to improve, remember that every business starts from scratch having a small fund and small sales as well. Plus there are already many ways to improve sales with the help of the internet, just take advantage of every resource you have.

Sales definitely play important role in determining an investor's success. It's important for businesses to generate sales because it not only indicates the demand for their products or services but also provides them with the necessary funds to sustain and grow their operations. Without sales, even the most trusted business plans can fall flat.

[MarjorieZimmermanGinger]

People hear about instant billionaires and want in, but they don't see the countless others who lost everything due to ignorance. As dumb as jumping into the ocean without knowing how to swim, investing without knowledge is foolish. Instead of promoting financial shortcuts, we should promote careful risks. People should stop treating investment like a lottery ticket and more like an art form that needs strategy, patience, and a lot of study

The option of becoming richer is just a hope and if someone doesn't have support then I don't think it can ever be achieved. Both doing business and being involved in investment require money and talking about profits will definitely adjust and unfortunately there are many people who are starting to get caught up in promises of big returns and they have no knowledge at all to get involved in these two methods. Forget about wealth when we don't have the knowledge to run it and don't expect to be richer when we don't have the money to make it happen.

that's right, bitcoin investment in the long run, the benefits gained from long-term bitcoin investment can be enormous because as far as I know it is promising, but this is only done by people who really have high patience and strong consistency, because even though this is easy to do but in my opinion it is not easy to run it, the consistency that is owned must be really strong because if it is not like that it is likely that they will fail in the middle of the road either pulling it or selling it when it is not time to do that, this happened to my friend where he invested in bitcoin but not long ago he sold it back and cashed it out because he was tempted by gadgets that are currently busy among the people. So in my opinion, we must have a strong sense of consistency so that we are not easily tempted by the things that are around us.

Take small steps to prepare for greater financial freedom and if you have an understanding of bitcoin then invest responsibly using existing capital. There is no need to be too hasty to reach the rich stage because there are no instant steps to achieve it, but when we start preparing in a measured and good manner then I am sure that slowly we will benefit from financial freedom through this scheme.

Bitcoin is a solution because it doesn't require large capital to run it and all that is needed is consistency to keep trying to collect regularly. There is a method for some people who don't have a lot of money and maybe there has been a lot of discussion that has been explained in the forum, just follow these steps and increase your ability to get involved in it, then I am sure that in the future we will reach a better stage of financial freedom.

[junder]

that's right, bitcoin investment in the long run, the benefits gained from long-term bitcoin investment can be enormous because as far as I know it is promising, but this is only done by people who really have high patience and strong consistency, because even though this is easy to do but in my opinion it is not easy to run it, the consistency that is owned must be really strong because if it is not like that it is likely that they will fail in the middle of the road either pulling it or selling it when it is not time to do that, this happened to my friend where he invested in bitcoin but not long ago he sold it back and cashed it out because he was tempted by gadgets that are currently busy among the people. So in my opinion, we must have a strong sense of consistency so that we are not easily tempted by the things that are around us.

Take small steps to prepare for greater financial freedom and if you have an understanding of bitcoin then invest responsibly using existing capital. There is no need to be too hasty to reach the rich stage because there are no instant steps to achieve it, but when we start preparing in a measured and good manner then I am sure that slowly we will benefit from financial freedom through this scheme.

Bitcoin is a solution because it doesn't require large capital to run it and all that is needed is consistency to keep trying to collect regularly. There is a method for some people who don't have a lot of money and maybe there has been a lot of discussion that has been explained in the forum, just follow these steps and increase your ability to get involved in it, then I am sure that in the future we will reach a better stage of financial freedom.

I agree with that, don't rush to take action, because something that is done in a hurry may not consider it well then it will produce something less than optimal too. and indeed if you want to succeed, of course, there must be a process that is passed. there are no people who are instantly rich, maybe there are but they only inherit property from their parents. starting investment with small capital is also not a problem because if it is run well, it is likely that it will develop and of course it will generate its own benefits. financial freedom that must be achieved so that we can enjoy everything.

everyone can do it if they have good consistency even with small capital it can be done, success will be created if we ourselves want to try to run it well, it takes a good understanding to invest in bitcoin because if it is done with no good understanding it will produce something that is not good, therefore before investing in bitcoin of course there must be a good understanding as well as must be willing to learn to take examples from the experiences of many people who have long invested in bitcoin, and the same is true with other businesses or investments.

[Promocodeudo]

For anyone to run a business you have to know much about the business very well in other not to be a victim of circumstance, most people fall into business because of the failure to adhere to rules that govern such business and the strategies involved, let's take for example a commodity that has only 10 bucks profit, you can decide to sail such item for 8bucks to fasten your sell in other to restock, some persons can decide to come from far to get such item from you since there is a little reduction of price, for you to excel in this kind of business you have to unleash all the necessary strategy you get to outsmart your competitors.
Don't go into a business with learning how to bit your opponents if not you ain't last long in such establishment.

[itorai]

The business world has become very competitive and in order to remain alive in the business for a long time, a business owner needs to be very proficient in many things, hard working, smart enough, financial capable and always keep his/her eyes on the customers.

There are two very important elements that are crucial in running successfully any business. First is the strong business idea and the second one is all about marketing and management skills to be able to keep customers/clients interested in your business. If you are thinking of starting a business, it is good to have a strong business plan that includes all the necessary aspects of your business such as: market research, competition analysis, finances, marketing plan etc. To increase the chances of your business succeeding, you need to ensure that you are constantly updated with current business trends, educated enough to know all the possible market shifts and you must be able to make most informed decisions.

That's a good percentage, I think entrepreneurs should master what you say, and if not, maybe the opposite will happen because I see a lot of entrepreneurs who can't maintain their business any longer, for that reason now customers are smarter in sorting and choosing the right products. They want it, especially in this modern era, to be more transparent, even regarding prices.

[Twentyonepaylots]

mismanagement of funds and wrong expectations are two things that i think often kill businesses.

I want to add the 'not setting the right goal - short and long term goal. I started to think of opening a small business, and it has been running to my mind ever since. What's the goal of my business? what if something is going off? what's the plan A? B? C? what is the realistic roadmap for my business? I've been overthinking lately that frights me in starting.

when a business mismanages their money and tends to burn their money on things that are not really important, they have dug their own grave. because managing money is related to business sustainability and when companies mismanage their money it will threaten their operational activities and reduce the trust of their investors.

This is why management shouldn't be handled by any of our relatives, unless and until they have a degree or experience on SUCCESS management of business. Even the business owners, if you don't know how to find someone who can manage for you.

and when companies cannot predict market expectations when they have poured a lot of money into the plan, it means they are counting the time to go bankrupt. capturing what potential customers expect is the most important thing for a business, so that when they launch a product or service it will immediately be captured by potential customers which can improve their brand in the market.

Basically, it is the crippling problem of every business, expectations should be set in monthly or quarterly, we cannot expect something to happen in a year from the first day of the business.

[Iroh]

A motivator once said, "That in a business, when you fall five times then make sure that you will get up for the sixth time." That's for people who are born into families that are capable and well-off, because they always have the capital to get up again. Whereas when the fallen are small-scale entrepreneurs, who rely on their business as a way to survive and to make ends meet, it is very difficult for them to get back on their feet when they go bankrupt. Because they no longer have enough capital to start their business again.

People who when starting out and creating a new business encounter problems as it’s likely to and fail. When such people fall and rise again multiple times aren’t necessarily born into wealthy families to have enough capital to continue to bankroll the business even when it has failed to succeed multiple times.
There are people who put in the work to make the startup a success. Capital is important, no doubt about that. But the physical work is also needed that would take up a whole lot of your time. People who fall and rise again when starting a business have determination and perseverance. Traits that can help one when starting out and without it, all the capital in the world could be sunk into the business and it still wouldn’t succeed.

[poodle63]

The business world has become very competitive and in order to remain alive in the business for a long time, a business owner needs to be very proficient in many things, hard working, smart enough, financial capable and always keep his/her eyes on the customers.

There are two very important elements that are crucial in running successfully any business. First is the strong business idea and the second one is all about marketing and management skills to be able to keep customers/clients interested in your business. If you are thinking of starting a business, it is good to have a strong business plan that includes all the necessary aspects of your business such as: market research, competition analysis, finances, marketing plan etc. To increase the chances of your business succeeding, you need to ensure that you are constantly updated with current business trends, educated enough to know all the possible market shifts and you must be able to make most informed decisions.

That's a good percentage, I think entrepreneurs should master what you say, and if not, maybe the opposite will happen because I see a lot of entrepreneurs who can't maintain their business any longer, for that reason now customers are smarter in sorting and choosing the right products. They want it, especially in this modern era, to be more transparent, even regarding prices.

being transparent is indeed one of the thing many people sought after these days, i remember back then being reseller was quiteeasy thing to do basically just set up some amazon account and we're set, nowadays people like to make some research about the price of their product even go as far as researching the price of certain goods from aliexpress, the behaviour of customers nowadays are definitely changing and a businessman we should be well versed in these things and kept on adapting towards the changing of customer behaviour.
there's also reason why so many companies out there collecting data about their customer because they want to know whats best for their customer and the thing that piqued their interests.
everything is based on customer these day even go as far as creating personalized recommendation for the customers.

[MarjorieZimmermanGinger]

I agree with that, don't rush to take action, because something that is done in a hurry may not consider it well then it will produce something less than optimal too. and indeed if you want to succeed, of course, there must be a process that is passed. there are no people who are instantly rich, maybe there are but they only inherit property from their parents. starting investment with small capital is also not a problem because if it is run well, it is likely that it will develop and of course it will generate its own benefits. financial freedom that must be achieved so that we can enjoy everything.

Something done in a hurry will not provide maximum results because we lose momentum to prepare the process. If it is related to investment, try to carry it out responsibly and carefully, especially if the available capital we have is small so we have to determine the right strategy to be able to utilize it. Bitcoin provides opportunities and avenues for anyone to take advantage of and as some discussions continue it is best to learn about them first before getting involved in investing.

everyone can do it if they have good consistency even with small capital it can be done, success will be created if we ourselves want to try to run it well, it takes a good understanding to invest in bitcoin because if it is done with no good understanding it will produce something that is not good, therefore before investing in bitcoin of course there must be a good understanding as well as must be willing to learn to take examples from the experiences of many people who have long invested in bitcoin, and the same is true with other businesses or investments.

Financial success and freedom is the responsibility of each individual and we are also required to be consistent in carrying it out. Nothing is instant and easy because going through the process will be much more difficult than hoping to make quick profits. The investment space is wide open for anyone and if we can concentrate properly then slowly we will definitely get real benefits. Start small and learn what methods are suitable for generating profits and as much as possible don't rush through the process.

[Strongkored]

mismanagement of funds and wrong expectations are two things that i think often kill businesses.

Apart from these two which can make a business fail, there is another thing that makes a business fail, namely innovation, they do not have new innovations that can be provided to their users and also do not want to adapt to developing conditions so that their income will slowly decrease and eventually must shut down their business, because they are replaced by new companies that very innovative and what was offered was in line with what was needed at that time. Companies that do not continue to innovate and adapt to developments will be left behind and lose customers.

[0t3p0t]

I think mismanagement and not maintaining good quality service makes a business fail. I see a lot of small businesses here in my place that goes bankrupt because of mismanagement reasons. Trusting people to work with your business is also an investment if you failed to choose the right and suitable one it will sometimes cripple the foundation. Just make sure you are ready to commit, take risk, responsible and then of course love your business.

[junder]

I agree with that, don't rush to take action, because something that is done in a hurry may not consider it well then it will produce something less than optimal too. and indeed if you want to succeed, of course, there must be a process that is passed. there are no people who are instantly rich, maybe there are but they only inherit property from their parents. starting investment with small capital is also not a problem because if it is run well, it is likely that it will develop and of course it will generate its own benefits. financial freedom that must be achieved so that we can enjoy everything.

Something done in a hurry will not provide maximum results because we lose momentum to prepare the process. If it is related to investment, try to carry it out responsibly and carefully, especially if the available capital we have is small so we have to determine the right strategy to be able to utilize it. Bitcoin provides opportunities and avenues for anyone to take advantage of and as some discussions continue it is best to learn about them first before getting involved in investing.

of course, because whatever is done, especially binding with profit, it must be prepared from the beginning thoroughly, it is not recommended to take more risks if it can still be considered better to consider it than something that does not happen because it does not consider it well. make the best use of the capital owned even with small capital, never consider it as an experiment, it is better to do it seriously so that it can produce its own benefits. therefore before plunging into the world of investment or business it is better to learn a lot first related to things that bind to what will be done, because it can determine what will happen later, by investing in bitcoin it will generate profits but in a long period of time, it is also not easy to run it because not everyone has strong patience, investment or business is equally profitable if we can manage it well, but if we can't manage it well then don't expect there to be a big profit we will get, so the importance of learning about something that will determine the future.

everyone can do it if they have good consistency even with small capital it can be done, success will be created if we ourselves want to try to run it well, it takes a good understanding to invest in bitcoin because if it is done with no good understanding it will produce something that is not good, therefore before investing in bitcoin of course there must be a good understanding as well as must be willing to learn to take examples from the experiences of many people who have long invested in bitcoin, and the same is true with other businesses or investments.

Financial success and freedom is the responsibility of each individual and we are also required to be consistent in carrying it out. Nothing is instant and easy because going through the process will be much more difficult than hoping to make quick profits. The investment space is wide open for anyone and if we can concentrate properly then slowly we will definitely get real benefits. Start small and learn what methods are suitable for generating profits and as much as possible don't rush through the process.

it is true, in running a process it will not be easy, also most people fail in this one thing, people who do not have a consistent or stand they will easily give up with the occurrence of problems, whereas in my opinion a problem that occurs must be faced instead of being left or left, because by facing the existing problems it also makes us a lesson that can be taken on the bright side, If someone who cannot overcome his problems well then the possibility of that person will not get progress in his business, someone who wants to succeed of course they have to sacrifice to achieve success, I mean there must be sacrifice and struggle, because as you said there is nothing instant in this world when it comes to success, everything has its own process. and anyone can be successful if they want to try. and anyone can succeed if they want to try well and also don't rush in deciding something that will determine the future.

[pusaka]

I think mismanagement and not maintaining good quality service makes a business fail. I see a lot of small businesses here in my place that goes bankrupt because of mismanagement reasons. Trusting people to work with your business is also an investment if you failed to choose the right and suitable one it will sometimes cripple the foundation. Just make sure you are ready to commit, take risk, responsible and then of course love your business.

It has a lot to do with our management and I agree with that. Sometimes our failure does not come from external factors, but from within ourselves. Many businesses eventually have to go out of business because they cannot manage their business, be it in terms of finance or other things. But what I emphasize here is how we manage our finances, because the money from profits will always be in the money that becomes capital and usually it is not much realized.
I've experienced this, I sell small things like pulses and other electronic balances, maybe because this was my first experience at the time, I forgot to always separate the capital and profit money, finally I was confused when I wanted to spend back my capital was reduced. Lol

[topbitcoin]

~

People who when starting out and creating a new business encounter problems as it’s likely to and fail. When such people fall and rise again multiple times aren’t necessarily born into wealthy families to have enough capital to continue to bankroll the business even when it has failed to succeed multiple times.
There are people who put in the work to make the startup a success. Capital is important, no doubt about that. But the physical work is also needed that would take up a whole lot of your time. People who fall and rise again when starting a business have determination and perseverance. Traits that can help one when starting out and without it, all the capital in the world could be sunk into the business and it still wouldn’t succeed.

It is very true that starting a new business often involves various obstacles and failures. While financial capital is an important part, persistence and determination are also the keys to success. People who fall and rise many times in their businesses may not always have abundant capital from rich families, but they have extraordinary passion and hard work. They must really be able to take advantage of these opportunities, because it is difficult to they can get a second chance.

Success in building a business often involves a combination of financial capital, physical hard work, and perseverance. Although capital is very important, perseverance is what sustains a person in the face of failure. The ability to bounce back after failure, learn from mistakes, and move forward with great enthusiasm is key to building a successful business. So, while capital provides opportunities, strong determination and perseverance play a crucial role in the journey of building a successful business.

[MarjorieZimmermanGinger]

it is true, in running a process it will not be easy, also most people fail in this one thing, people who do not have a consistent or stand they will easily give up with the occurrence of problems, whereas in my opinion a problem that occurs must be faced instead of being left or left, because by facing the existing problems it also makes us a lesson that can be taken on the bright side, If someone who cannot overcome his problems well then the possibility of that person will not get progress in his business, someone who wants to succeed of course they have to sacrifice to achieve success, I mean there must be sacrifice and struggle, because as you said there is nothing instant in this world when it comes to success, everything has its own process. and anyone can be successful if they want to try. and anyone can succeed if they want to try well and also don't rush in deciding something that will determine the future.

Carrying out the process requires persistence and patience because if someone cannot persist, they will never achieve success. Starting a business requires preparing many things as support and there will be big challenges when people try to go through the process. This is where people learn how to build their own abilities because there is a lot of competition in the business sector that needs to be considered in order to compete and when they are not able to compete then the business will never develop.

In life nothing happens suddenly because it takes a long process to reach the stage of success. Not everyone can run a business because apart from requiring skills and capital, there are many other things that need to be prepared. Anyone will definitely experience boredom when they want to start, but those who are ready for tests and trials will be the ones who will succeed.