Small business Plans! According to a survey, 90% of the startup businesses get failed. There are many reasons behind it. In this article, I have tried to discuss those reasons along with the solutions. The 5 useful business tips which I shared in this Article are,
1: Start Business with the love for the work
2: Make Value delivered plans
3: In Business Changing is the must
4: Management is the brain of the Small business
5: Marketing is the oxygen to stay alive your small business plans
Start Business with the love for the work
In starting I wrote, 90% of the startup businesses get failed. you really think which business you are going to start you have 90% chance of getting failed? yes..?
If yes, Hold on think again before starting the business.
If Not, yet think again, Because it’s true,(90% of the startup businesses get failed)
Now the question is, what you have to think…?
I am right..?
ok, the answer is here: You should think, Why you want to do business..?
There are two possible reasons:
1. In burden only for money
2. With love motivated
Your business fully depends on your answer,
If you are starting a business in any type of burden,e.g.for money only, you don’t get a job so only, or a friend told you, In behind to start a business you have these type of reasons, then yes, you will be in the list of those 90% Failed peoples.
But, In the second case If you love your work you get motivation after completion of your work, Then there is no reason for getting failed, you will be sure in those 10% people list who get successes.
So, If you want successes in your business then do only what you love, not just for doing in a hope,
Make Value delivered Small Business plans
Value delivered = Money earned,
It’s a very basic formula for successes of your business plans. if you start your business with a useless product means if your product is not delivering any special value why they will purchase your product.
For This, think and think deep, before selecting the product for business, because 50% small business Plans get failed, only due to no value delivered to customers.
In Business Changing is the must (small business plans)
Business is not like that, you just start and forget about it, it will run smoothly. According to the time change is necessary, if you will not change with time in your business style you can understand this with the position of ‘NOKIA’. and the second face of this coin you can understand with “FACEBOOK”. what was FB in it’s starting phase and now what it is.
Management is the brain of the Small business
In business, Managment is a very sensitive part or you can say it’s brain of your business.
As we all know in business how we can get Maximum successes with Minimum resources it’s totally depends on the Management ability, also it is an ultimate goal for any business.
Marketing is the oxygen to stay alive your small business plans
if you will google the question ‘how much most companies spend on marketing average percentage’ than answer will be “ businesses on average should spend 10 percent of their gross sales for the year on marketing each new product or service, or 20 percent of the new service’s sales and revenue target”.
so you should do decide your business as per your yearly revenue and have to decide revenue for the marketing. because you can make a product but can’t sell without getting those people who need it.
For marketing, you should choose target marketing only.
Hope this article will help you if you think yes please share and comment!