Why does a startup fail?

Most companies are in the process of making huge money but they forget to add the hospitality, they forget to add the customer service package. Most entrepreneurs don’t put their own money, they ask for help from others or take up a business loan. The business loans are costly than any other purpose because the rate is higher and the commercial tax for the business can be very high. What and how does a startup fail? And what could be the issues troubling an entrepreneur. It is tough to start any business in these days.

In Every business, there is a demand and supply balance which has to fill to make a trade or complete the deal. When the demand is more and the supply is less, the price roar higher. While the demand is less and supply is more, we can see the prices dropping to the least value in the market. There has to be one party or both parties which must agree to the sale price. The main reason for the business to fail is the negotiation of the price with one party holding firmly to their desired cost. When you close a business deal with the other party not willing for the price, it creates more problems down the road.

Identify what you want to do!

This is the first step and many entrepreneurs know it, the first and foremost step is to construct paper work and a strong business plan. When you can make it possible, you can get the better results. Stick to the plan, no matter what! The demand and supply in the market is a cyclic process, when the prices goes up it must come down, it’s the newton’s law and applicable for all things in existence. If you can study the market, and what people want. You can give the right product for them, your business will flourish. If you can look at www.kickstarter.com , you can see more innovative ideas which have no office or place but quickly sells.

 

Identify your team

In this modern culture of information technology, you can see ads displaying “bring your buddy to work”, it explains all. You are not alone, everyone is dependent in one way or other, which helps you and company to complete the project. Better team, better products, better life. Team work is very important in business, you have to make your team motivated. When your team lacks the energy to do stuff, it affects creativity and productivity. Many people are very skilled in doing tasks within their job more passionately. If you stop someone from achieving their passion, they can get bored easily.

 

Read more books?

Professional or an entrepreneur is a person who does business but it has to be done in the right way and you need to take your profits too. Read more books to educate about yourself and how to run a business! The same approach in one business say “toy shop” cannot favor success with another business of” banking”. It takes  time, efforts and a plan to make your business flourish. There are plenty of seminars in business and dozens of books out there in the market, why don’t you stop by and try?