Have you Failed?

The 10 Top Business Failure Points
From a study conducted overseas it was shown that the 10 business failure points that stood out above all else were as follows:

  1. Lack of business knowledge and experience 
  2. Inadequate financial planning and control
  3. Poor management team.
  4. Bad capital structure.
  5. Not enough customers
  6. Poor management of staff
  7. Bad attitudes by owners.
  8. Increasing costs.
  9. Little care with costing and pricing.
  10. Lack of attention to suppliers.

How to Guarantee Failure
Here are 11 sure-fire ways to guarantee failure in your business:

  1. Take big risks without thinking.
  2. Don't listen to anyone else who may have an opinion.
  3. Be a dictator and keep all the power to yourself.
  4. Treat your staff like second-class citizens.
  5. Don't make any decisions that you find are unpleasant - put them off.
  6. Be first in what you do no matter what the cost.
  7. Don't bother writing up a business plan.
  8. Do all the financial accounting work yourself, even if you don't know a lot about it.
  9. Don't bother about budgeting.
  10. Don't give a thought about your competitors.
  11. Be your own accountant and lawyer.

Be a Someone or be a No One
If life and everything in it was easy, then everybody would be a success and there would be no diversity in the world. We are very fortunate that the creator made the entrepreneur.

He designed a human that was optimistic, a risk taker, always looking up instead of down, and willing to have a go at the things that most people fear. Thank God for the entrepreneur.

What would things be like if nobody was willing to take a risk?

If nobody was willing to "put their butt on the line" this world would be nowhere, doing nothing.

People have two choices - either up or down. Nothing in this world happens without some effort by somebody. In business you don't have to start off big - just start. Take one day at a time, work through the problems that arise, and stay on top. If you start to feel sorry for yourself, or depression comes over you, just remember that it is only a temporary situation. Think of the blessings and the good things that have happened to you and your business or family.

You have two choices. Be a someone or be a no one.

Or as in the words of a very wise Mum to her moaning kids- 'You have 2 choices for dinner tonight - Take it or leave it.'

They say that there are 3 types - those that make things happen, those who watch things happen, and those who look back on their life and say "What the heck happened?"

Which are you? Where are you today? If you are not where you would like to be, then change. Change your mindset. Take charge of your life. You have amazing potential waiting to be released.

Failure is only temporary anyway. Nothing is impossible to you in your business. A successful business owner is not someone who has never failed or never gone into bankruptcy, but someone who won't stay down. Like the Eveready battery advert - they keep 'going and going and going…'

Eventually they reach their goal. Eventually they make it.