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The Top Seven Excuses Of Failing Business Owners
Sometimes, business owners throw in the towel when success is just around the corner. When they’ve done this, they’ll make every single excuse they can think of for giving up.
Can you imagine throwing it all away when you could have been only a short step away from being truly successful? Don’t let this happen to your business. If you truly desire to be a huge business success, give yourself a kick every time one of these excuses starts to come out of your mouth.
The customers just didn’t understand our product/service
You can’t expect your business to be a success, if your customers don’t understand your product or service. It’s your job to make sure your customers understand what your business is about, and what it can do to benefit them. Make sure you’re being clear about what you’re offering in your marketing materials. If you’re not – improve them.
We just couldn’t get the right staff
The wrong staff can ruin your chances of business success. Recruiting, training and motivating staff is difficult. If you’re struggling – and we’ve all been there – take some courses, read up on the topic, and improve your business skills in that area. Also, if you’ve already made a few staffing mistakes, the chances are that your subconscious mind believes that you’re constantly going to recruit the wrong staff, and the chances are, you will continue to attract them to your business. Before you interview, keep telling yourself that you’re going to find and recruit a wonderful, successful, honest team – and believe it.
We couldn’t raise the finances to grow
To grow a successful business, you need money. How hard are you trying? Have you taken any risks yourself – eg. remortgaged the house, borrowed on your credit cards? If you’re not willing to take a risk to invest whatever you have on your own business endeavours, it’s unlikely that anyone else will, from banks to angel investors, or friends and family. People who put their own finances into a business are generally more determined to make it work.
The work dried up
A business with no work coming in has no chance of being successful, but work doesn’t just dry up. Even in bad economic times, good businesses will survive. Are you marketing proactively? Do you keep in touch with existing customers? If not, now is the time to start. Your chances of success are high if you ensure that you get repeat business from existing customers.
There just weren’t any profits
A successful business is a profitable one. You are responsible for ensuring that your business produces decent profits. If you’re not competing on price – and if you are, you shouldn’t be, then you should be making decent profits. Up your prices, and cut your costs.
There was just too much competition
A successful business should stand out from the competition. You need a usp (unique selling proposition), which means you need to be doing something that your competitors are not. You could be faster, higher quality, more choice – anything which will give you an advantage over one of your competitors. If you remain as just one of the crowd, doing the same old thing, you’ll have a tough time competing. Be different and your business will be successful.
We just lost all motivation and enthusiasm
Do you have a business plan? Have you set yourself short term goals as well as long term goals? Goals are essential to a successful business – they will keep you focused and motivated.
Don’t allow yourself to make any of these excuses. Make a promise to yourself to be different to the average business owner, and you will be a success.
: Catherine Lawson is a successful business owner, who is committed to helping start up businesses to become a business success. She does this through a business newsletter for start ups and struggling business owners: Secrets to Business Success.
ACS provides non profit credit counseling, credit management and consolidation services to consumers
ACS provides credit repair, credit counseling and free consolidation information to consumers. ACS helps people solve debt problems by providing free credit counseling articles and resources. ACS is a non-profit community organization whose staff members have the training and experience to assist you.
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