How to prevent small business failure?

How to prevent small business failure?

Santosh Gairola   By   santosh |  updated :   22 Dec 2017

How to prevent small business failure?

Being a business owner we must understand why small business fail and how to prevent small business failure?

There is nothing good and bad when it comes to surviving in the tough phase of the business. This post is for those people who want to learn why small business fail and how to avoid getting in such circumstances?

This post will help you to know How to prevent small business failure? In this post, I will try to be practical with you.

So let's get started

Somebody said it beautifully that Precaution is better than cure. Being an entrepreneur blogger and proud founder of Ultimate lifestyle blog - Viyali ; I thank each one of you who support and love reading our articles and today our articles are doing good.

We remember one time when we started as fresher and our articles were not doing good. We tried so much to overcome the dark phase.

Ultimately by changing our strategies a little bit, it helped us a lot to overcome it.

So we understand the meaning of Business Failure.

Failure Slaps you in public whereas success hugs you in private.

The certain thing starts getting happen when your business fail like your closest people start making the distance from you.

You avoid parties and social gathering. Your family, friends start losing faith in you. You may even come across the breakup or nervous breakdowns.

Everybody takes you lightly and whether you believe it or not, you start losing your self-esteem in front of others. This condition is actually a state of mind which can be reversed anytime.

Firstly we need to accept that there is no harm in getting fail and you have all the right of getting fail in something you love or passionate about.

Accept taking critiques, Taking criticism positively is good for your business health

People always connect failure with negativity and loss but in reality, failure gives the major lesson that particular thing is not done in that way.

You need to think again about your business strategies. Analyze your potential market first then observe the big fishes of your market who are leading in your market pond.

Now understand one thing, If you are an owner of a small business and you always need a calm mind so that you can make good decisions for your firm. In such scenarios try to give only 10 minutes in the morning to yourself and perform the Meditational exercise.

You can chant some mantra or something Auspicious or spiritual like the vibration of OM. It is a cosmic vibration.

A successful Business is built by the people who are logical in their thinking abilities.

Meditation will not calm you; it will open the inactive neurons of your brain. This is how your Miracle morning should start with a positive node.

After that certain kind of affirmation can help you to stay motivated and help you out to make think big.

Always remember my friend; The chakra of time is always spinning and it will never remain same for anybody.

Now after analyzing the competition and your position in the market. it's time to analysis about your product or service. Now consider yourself as a Bus Driver, yes, seriously I mean it. Consider yourself as a Bus driver, your Bus is your Firm and you are the driver of it.

First thing every Bus driver does is that he allows only valid people to get on the bus. A group of the people who has the common goal to reach a Particular destination.

The same thing goes for your firm employees, They must be clear about their duties and responsibilities in the firm.

Second thing is that make your mind clear about what are the things that are working well for you and what is not working good.

Eliminate what is not working well for you. This exercise will help you to understand the basic difference between assets and Liability.

Easy and simple Rich dad poor dad summary can help you to understand the major difference between your assets and Liability.

Now start making some Time management schedules for your employees and yourself. Try to talk with your employees and make them understand company goal and your mindset.

It is the fundamental leadership skill . Now time to set your short-term goals. 90 days goal would be more appropriate to analyze the result of the firm.

If the desired result doesn't appear on your powerpoint slides which are confusing you to How to sell a product?

Then try to change strategy and remember what Bill Gates has said Your unsatisfied customer is the biggest source of earning. You can implement certain Persuasive techniques which are used in the advertisement industry.

Here is the few thing you can do wonders for you if you're still thinking about How to prevent small business failure?

1 Reconnect with your Unsatisfied customer

Reconnect with your unsatisfied customer and try to provide better service in return for the bad experience they have faced with your product or service.

2 Make your business Transparent

Make your business transparent to the customer. One thing I would like to share with you is that a customer never remembers what talk he had with your team or with you. What he remembers is that how you made him feel about your service and product.

3 Never Lie to your customer.

As a human being, we always want to get surrounded by trustworthy people, whom we can trust. Trust helps us to make a relationship with the next person and business is also about making the relationship.

Never Lie to your customer tell him the exact state of the product or service they are looking for and Never try to mislead your customer for short-term benefits.

A successful businessman never looks for short-term benefits

Never Charge him extra

This is one of the biggest miserable things you can do to your customer. Charge him for only your service and exact cost of your product. Charging exact cost will help you to get more low budget customers.

Either you can catch a big fish or you can catch small fishes.

It's up to you but catching more small fishes instead of a big fish can be helpful sometimes.

5 Sharing is caring

If you have a quality of sharing profit with the people associated with you. This quality will take you far in your business path and establish you as a true gentleman in your business world. This will bring more positivity to you and law of attraction will start working for you at a faster rate.

These are the few business success factors which have the power to give the boost to those people who are worried about How to prevent small business failure?.

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This post is for those people who want to know How to prevent small business failure? We have shared few strategy to avoid business failure which has the power to reshape the business.

As we all know that business is roller coaster rides people are always thinking about how to avoid failures in an entrepreneurial business. We tried to provide a solution to their major business problems.

Thanks for giving your crucial time to read the post. If we missed something then please let us know in comment section given below.

Last but not the least if you felt that article is worth sharing, then please share it with your most loved social network.

We will be thankful to you for your support and contribution.

Have a great day ahead, Stay blessed

Sharing is Caring.

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