Business Literacy™ drives my coaching practice. Find out more at
http://www.positivepotentials.com/businessliteracy.htm
From working with thousands of business owners and employees, here are my
three reasons small businesses fail:
1. Lack of planning, not funding. If clients have formal business plan, they don’t bring it out. Lack of or a fractured written marketing plan. With managers and multi-tiered businesses, buy-in is critical to run throughout the organization.
2. Don’t listen to advisory input; unilateral decision, stubborn leadership; want to do everything alone.
Entrepreneurs often don’t know when to hire expertise because won’t ask. The situation can be like the jokes about men asking for directions (TQ GPS!)
3. Focused on widgets rather seeing over the horizon then working back.
Once clients recognize Positive Potentials' mantra—they must move from DO to VIEW™. Too many managers are bogged down in the tasks rather than driving the process and focusing the vision.
What do you think?
Coach Cubas
Friday, February 01, 2008
Subscribe to:
Post Comments (Atom)
3 comments:
Hi,
I think some of this is correct. I do believe that knowledge as well as funds are the number one failure in business, large and especailly small companies.
Large companies are folding now due to the mis-management of the funds, this is due to knowledge is limited in some way.Knowledge can help protect the misuse of funds.
I think many small companies fail because the "Boss" makes friends with their 1-4 employees and then can't hold them accountable and risk ruining the friendships.
~Sky Davis
http://totallifevision.com
Hey - thought I'd drop by and leave a comment and was excited to see that I might be the first because your comment field said you had 0, but when I got in here, I saw there were 2. Might want to check your settings?
Annie
Post a Comment