How to survive financial losses, business failures
So, you invested your money in a Start-up, but it was unable to bring you income, on the contrary, it drove you into debt.
What was the reason why you failed to develop your business, while your competitors are thriving?
To give an accurate answer, you need to look at a specific example, analyze various factors, study financial indicators for different periods, and so on....
If we try to generalize the options for unsuccessful business management, we can identify a number of similar reasons that lead to the collapse of the enterprise, to its bankruptcy.
One of the most common reasons that lead to problems is lack of experience. Sadly, if you are new to business, you have very little chance of your boat surviving the storms and tempests that periodically occur in the business world.
Owners who have been working for many years know exactly how to behave during periods of instability, inflation, off-season, etc.
A newbie begins to panic in non-standard situations and makes unforgivable mistakes in business, the price for which can be quite tangible.
In addition to inexperience in business processes, a newbie is also likely to make mistakes about the people he works with.
By turning to them for help, a new manager may be known as incompetent, which will also lead to the end of adequate relationships with clients. The result is the same.
Lack of ability to manage financial resources is another cornerstone that can jump out of the hastily laid foundation of your own business.
Quite a few businesses open during the year, but they close before they even last a year, because they cannot break even based on the results of each month of operation.
Experienced managers are able to calculate commercial risks, adapt to new needs of the population, having studied demand, and come out with a positive balance. Beginners do not succeed in these maneuvers. Of course, no one will give advice.
Lack of skills in advertising and marketing also contributes to problems for the manager in particular and for the organization reporting to him in general.
To run a successful business, you need to listen to the client's wishes, and not to the company's work regulations.
In other words, if you sell vegetables and a customer is interested in nails, buy a batch of building materials to fulfill the customer's desire, and believe me, next time he will come only to you!
Finally, when you initially set up a business, you need to believe in its bright star. If, when you lay the bricks for the improvement of the company, you yourself do not believe that something will come of it, then it is unlikely that your company will exist for long. You must definitely hope for a favorable result, and even say it out loud.
Well, the result is sad, your company has ordered a long life. What should you do now, how to go through all these circles of hell, now connected with the closing of the account.
In no case, do not regret what happened, you have gained excellent experience for the promotion of a new business project in the near future. Do not despair and do not look for the guilty.
Pay close attention to market and demand research. Do not neglect the advice of experienced businessmen, but do not follow them blindly, calculate everything several steps ahead.
Set yourself up for positivity, believe in the best, and next time you will definitely succeed!
Previously, I talked about how to understand and influence your team.
