Is Your Business Thriving, Surviving Or Dying?
If you’re in business for yourself or are thinking about heading down that road, this week’s issue will support you.
It discusses business, why it fails a lot of the time and what you can do about it so that it doesn’t happen to you.
This week, we will look at #1 and next week, #2 and then #3 the following week.
Here we go.
Brian Head, Economist for the Small Business Administration Office of Advocacy says:
The top three reasons most businesses fail are:
1.Starting a business for the wrong reasons, such as having the illusion that it will instantly make you more money and have more time off.
2.Poor Management. New business owners frequently lack relevant business experience and management expertise in finance, selling, hiring and managing employees.
3.Insufficient Capital. Business owners frequently underestimate how much money is needed and how quickly they can establish positive cash flow.
When I looked at these 3 reasons, I truthfully didn’t think much of them. They made sense, but I didn’t think they were very relevant to me or my business.
BOY WAS I WRONG!
You see, I didn’t start my business for any of the reasons listed in #1. I started my business because I wanted to make a difference on a far larger scale than I could working for someone else. In addition, I was sick of working for other people, letting them determine how much I was worth, controlling my time and a good part of my life.
However, I was nevertheless, truly under the illusion that I would make tons of money quicker, could work a great deal less and have a much easier time of it.
Once again, I was wrong on all counts. None of that happened. In fact, the opposite occurred. I have worked harder, longer and for less pay than I would have made working for someone else.
I have put myself under a load of stress that would be enough to kill 4 horses and a half dozen elephants.
I made myself ill to the point of not being able to work for several months.
I was fat and out of shape. I was on an early track to heart attack land.
I had it all wrong and I was paying the ultimate price for it.
That’s really just the tip of the iceberg.
So here are some things for you to consider.
1. Why did you go into business originally?
2. What were your hopes, dreams, aspirations? Be honest with yourself. Are you on track or have you been stumbling, fumbling, and bumbling your way through?
3. Is the business you’re in truly fulfilling?
4. Are your expectations being met? If not, what’s missing?
5. Are you making the money you thought you’d be making?
The point is, if things are not working for you the way you want them to, it is time for you to reexamine your business model, your beliefs about yourself, your clients and your company.
I will help you to do just that.
So, that’s it for this issue my friend. May you be blessed beyond belief this week and may all of your dreams and your success come true. And may everything you wish for be the least that you get.
Until next issue…
To your success,
Darshan G. Shanti – The 24 Hour Champion