Reasons Your Business Might Fail
The reason why so many businesses underachieve and fail is that they lack discipline.
They lack the discipline to carefully study every aspect of the business before committing to it.
They lack the discipline to test their assumptions rather than jumping to conclusions and hoping for the best.
When you start a business a new venture within a business, you require the discipline to do your homework thoroughly in advance.
The discipline of advance planning can spell the difference between success and failure.
You need to identify and determine your ideal customer.
You need to develop a business plan that generate a steady and predictable stream of new leads for your business.
You need to develop a complete sales system that converts quality leads into solid customers.
You need to determine accurate cost and proper pricing of your products and services.
You need to develop a customer service policy. A customer service policy that will treat your customers so well that they become loyal to you.
The key measure for business success is customer satisfaction. Every effort and activity of your business must be aimed at satisfying customers than your other competitors.
It is only when customers buy from you again and again that’s demonstrate that you have a fulfilled business.
Customer satisfaction is the most significant measure for business success.
The ultimate determinant of your long term success or failure is your customers.
You can survive and thrive only when the majority of your customers are so happy with your products or services.
There are no easy ways to get to the top. There is only one way, and that is through hardwork, discipline and will power.
You are required to work long, hard hours for many months and even years to get to the top in your business.
Hence, the reason why your business might fail will be due to lack of discipline, hardwork, willpower and patience.