We can all do business. But business success and failure are two other stories. This article will share 13 successful experiences in business. I hope you will have useful information to apply in your business process.
- Market demand
So, you often see wise business people surveying their product needs before starting to invest deeper.
- Use up all the money you have
There are 2 different types of money and assets (fixed assets, mobile assets), if you use up all the money in your pocket, in a short time you will not have money to invest in your money. Mobile products (goods, materials …).
- There is no one group / organization suitable for business activities
The nature of business is to transform the mindset of the person (Robot or human) into action, when the volume of work is larger you will need a group or organization to deploy. If your group has components and how it works in accordance with the business you will succeed and vice versa.
- Too worried about competitors
Opponents don’t decide too big to succeed in your business.
- The initial investment is too large, beyond your affordability.
- Product design
This is not an important factor to decide the success or failure of business, but many people are too serious about design issues for packaging and goods. Because of that they ignore the market assessment, or the management of the money source.
- Your business model has problems.
For example, profits are not suitable for sales, or revenue is not suitable for market potential …
- Marrketing is not sustainable and effective
Entrepreneurs are usually only interested in putting eggs in a basket, but not thinking about broken eggs.
- Lack of interest in customers
Activities to collect feedback from important customers are equivalent to marketing activities.
- Release the product to the wrong market
Usually when you finish importing goods or finishing the product, you think that doing so is too much, and saying “the product has been completed, it should be launched as soon as possible.” But actually the timing of launching the product determines 15% of your success.
- Lost focus
You are too shy and looking for fleeting things, not focusing on products is the reason you fail.
- Conflicts of interest between investors and organizations.
This is the time when you need to successfully complete the task of connecting, reconciling the benefits between the capitalist and the business.
- Do not take advantage of the internet and modern resources in business.