We see umpteen number of startups fail ; most of them were tipped to be the game changers of their niche. Then what happens to these ; why can't hteir stellar business plans translate to financial success ? Here are some possible causes. >
Being short sighted .[/b]
[/b]Roaming for success is not enough. You must be willing to reach the finish line, at all costs. Failure is never an option. The road to the podium is a marathon not a sprint. Although fleetingly one can improve his ego in line very early in a race with good faith marathon runners, the effects of exhaustion and collapse become disastrous when the inevitable happens. [/b]
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Only one participant's absolute certainty that the goal is reachable , drives the others behind him to run along too. The ability of determination to be contagious is very useful for leaders and makes such a marathon tolerable. [/b]
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Failing to follow the cash flow. [/b]
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That means spending more time on accounting that can be comfortable and in consultation with trusted advisors who were on the sofa outside your office. Why? Because when the heart of a cessation of business, the body dies, you will be returned to the status of a minority investor or employee, or thrown out with the garbage.[/b]
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Having a Large Overhead[/b][/b]
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Entrepreneurs have limited control over the clients and the income they generate. Your sales are influenced by many external factors, including the economy, competitors, raw materials, suppliers and so on. The contractor has almost complete control on costs incurred in managing the company and the largest source of overhead walking on two legs. [/b]
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Always ask: Is it really necessary to imbibe ,given that I am convinced that the employment of that person will allow us to generate additional revenue for the equivalent of seven to ten times the salary of new employee?[/b]
Not coming to terms with your failures. [/b]
As an entrepreneur, you'll love and believe in your products, projects and people. But you must be a reckless evaluator. If you see signs of failure, ask your radar and get ready to cut your losses. The projects need time to launch, but there are few real success that show late blossom. [/b]
[/b]
You must analyze the events to understand the err of the product or service itself, or its implementation: "Is there the will and resolution to strive harder, or did you hire the wrong team to produce or sell?[/b]
[/b]
Cuddling talent[/b]. [/b]
[/b]
Recruit the best talent you can afford. Be flexible in making offers to candidates who are attracted not just for the money, but new opportunities and challenges. Do not be afraid to recruit young talent. New professionals are hungry, very aggressive, and should be cultivated until it burns or fades away. Who knows , the fire may be perpetual too.
[/b][/b]
Being short sighted .[/b]
[/b]Roaming for success is not enough. You must be willing to reach the finish line, at all costs. Failure is never an option. The road to the podium is a marathon not a sprint. Although fleetingly one can improve his ego in line very early in a race with good faith marathon runners, the effects of exhaustion and collapse become disastrous when the inevitable happens. [/b]
[/b]
Only one participant's absolute certainty that the goal is reachable , drives the others behind him to run along too. The ability of determination to be contagious is very useful for leaders and makes such a marathon tolerable. [/b]
[/b]
Failing to follow the cash flow. [/b]
[/b]
That means spending more time on accounting that can be comfortable and in consultation with trusted advisors who were on the sofa outside your office. Why? Because when the heart of a cessation of business, the body dies, you will be returned to the status of a minority investor or employee, or thrown out with the garbage.[/b]
[/b]
Having a Large Overhead[/b][/b]
[/b]
Entrepreneurs have limited control over the clients and the income they generate. Your sales are influenced by many external factors, including the economy, competitors, raw materials, suppliers and so on. The contractor has almost complete control on costs incurred in managing the company and the largest source of overhead walking on two legs. [/b]
[/b]
Always ask: Is it really necessary to imbibe ,given that I am convinced that the employment of that person will allow us to generate additional revenue for the equivalent of seven to ten times the salary of new employee?[/b]
Not coming to terms with your failures. [/b]
As an entrepreneur, you'll love and believe in your products, projects and people. But you must be a reckless evaluator. If you see signs of failure, ask your radar and get ready to cut your losses. The projects need time to launch, but there are few real success that show late blossom. [/b]
[/b]
You must analyze the events to understand the err of the product or service itself, or its implementation: "Is there the will and resolution to strive harder, or did you hire the wrong team to produce or sell?[/b]
[/b]
Cuddling talent[/b]. [/b]
[/b]
Recruit the best talent you can afford. Be flexible in making offers to candidates who are attracted not just for the money, but new opportunities and challenges. Do not be afraid to recruit young talent. New professionals are hungry, very aggressive, and should be cultivated until it burns or fades away. Who knows , the fire may be perpetual too.
[/b][/b]