What is the reason for most businesses (90%) successful or businesses fail? All of them are those who have started their career without any liveliness or planning to begin their career. They have not been able to find the key to the successful career.
Why did they start the business?
What motivated them to start a successful career?
Their prediction is the reason for the majority of the defeats. This is a suicide bout of suicide. Thinking about the techniques they need to know the profession, they have started their profession.
In other words, you know that they can cook well and start thinking that they can succeed in the restaurant. Thinking of the hairstyle they feel like starting a beauty salon.
All these things are true. A very good culinary expert, can cook specially. How would you start a restaurant? Although he knows how to manage a market condition, branding and employee, the company should know the financial system and the accounting case, even if it is somewhat familiar. Even though he is the best culinary artist, he can not become a successful entrepreneur.
this is the main reasons of Business Fail
A culinary artist will spend most of his time on cooking. That’s the best way to know him. He does not know another face of business. Especially in marketing, financial status, brand development, customer service and management matters are not known.
As the trade grows, the quality of food will decrease. Because he would not have prepared others for food preparation. The quality of the service also becomes unstable. Accounting cases are also messy. This will lead to a problem in cash flow. Staff problem will arise.
Thus the sales will start to fall. This will increase the cost of the industry and the industry will end. That’s how the beginnings of the industry began with only a limited capacity. They wanted to start the business. But they did not know whether they had the ability to do it.
Many have come up with a sense of expertise in the industry to be a successful entrepreneur. You do not have to be a hairdresser to start a hairstyle or a beauty salon. Similarly, you do not have to be a culinary artist to start a restaurant.
There should be no expertise in these. However, you can hire skilled people. You can focus on all your hard work and other requirements such as marketing, financial management, and functioning, including business.
Entrepreneurs like Tata, Birla and Ambani have been successful in starting various industries. All the details about all the businesses are unlikely to be known or not, but if they are the greatest winners they have something else. How can we cultivate it? Let’s see in the coming weeks.