Connect with us

Business

11 Reasons Why Your Business Might Fail (Big Companies Do Too)

The corporate world, what once might have started off as a small theatre with few running the theatrics, has now turned into one large battlefield where warriors and armies of all kind battle it out for glory and all at once. This triggers a dire need of studying every factor that can be instrumental in the success or Business Failure of the company. Any company that fails or lags to keep a strict check on such factors only summons upon itself an inevitable debacle. While there are numerous reasons for the Business Failure of big companies, the followings are few evitable ones that can not be neglected at all:

11. In-Adequate Planning: Business Failure

failed business ideas

One of the main reasons why large Business Failure is the lack of planning that is required for survival in this competition oriented domain. Companies should be aware of their current position and must have a thoroughly planned action plan for where their company might be in the upcoming years. Therefore, both long term and short term planning must be done beforehand. The example of this could be KMart, due to high competition, company was not able to cope up with the demand and thus failed in 2002.

Learn Also About: Why There Isn’t Anything Such As Overnight Success

10. Uniqueness (Business Failure):

failed businesses

Business Failure: In the theatre of business, the uniqueness of the product is a must. Companies which neglect or overlook this very fact tend to fail. In the global market, there are many companies making the same product, that implies competition, which can only be beaten by the singularity of the product. Prime example of this could be General Motors. From being the best to losing its charm, General Motors lost the battle because it was not able to impress the masses with its products, it put a full-stop to its creativity and thus failed to satisfy its customers.

9. Understanding the Audience: Business Failure

failing businesses

Business Failure: Since the global market is flooded with similar products if your product offers nothing new or different, it is bound to fail. One such example is of big conglomerate of Nokia which adhere to their traditional cellphones in a market where new and other companies gave out products with latest technologies and newest features. Business failure is what happens when companies don’t understand their audience clearly.

8. Premature Scaling: Business Failure

causes of small business failure

This factor implies proportionate and controlled use of resources. To explain it properly, consider a company investing large amounts of money on marketing or maybe hiring many people too quickly. This will result in an imbalance in proper investment to other portions of the business. Conseco is the clear example of such factor. The company acquired Green Tree Finances which they could not keep up with and thus it proved disastrous in the long run.

View Additionally: 11 Secrets They Will Never Teach You at Business School

7. Miserable Financial Management: Business Failure

reasons for business failure with examples

We all know how important smart finance management to the business is, bad management can lead to business failure. Many businesses go bankrupt or companies go into liquidation due to poor financial condition. The example of this is Thornburg Mortgage which went bankrupt and later liquidated in 2011.

6. Lack of Focus: Business Failure

small business failure

When you start a company you have to make sure you would remain vigilant.The minute you lack focus, your company would start declining. Always be sure that your product is always up to the mark and in demand by the people,failure of it would lead to your failure. If you’re in doubt, take example of Atari, Inc. They were literally the pioneers of video games but they failed miserably with their second game and thus shoved their company into the hands of failure.

5. Poor Management of Inventory: Business Failure

reasons for starting a business

Before filling up your inventory, always make a thorough study of how much of the inventory is required, under or over of it leads to a loss. Also, it is necessary to fulfil the requirements needed for the inventory. The negligence or poor inventory management can actually cause the company to suffer and these are not just mere words or hollow warnings, companies like Circuit City, actually failed because of poor management of the inventory. many people so no understand it’s importance but this also leads to business failure.

Learn MoreUse This Billionaire’s Tested Formula To Excel in Life 

4. Giving No Ear to Customers Demand: Business Failure

causes of business failure

When a company launches a product and it is a hit, it does not imply that the product will be doing as great as it did at the time of its launch. People and their requirements change with time and so companies should always know what is the need of time. Hummer is the example of one such factor that led to the failure of its company. The huge, sturdy ride was an environmental hazard and thus, what once was a status symbol, now was the nuisance no one was ready to cope with.

3. Failure to Learn: Business Failure

reasons of business failure

Companies need to be geared to the needs and wants of their customers. With advancement in technology, it is necessary that companies know how to be updated with their products too. Failure to go with the flow will lead to failure of the company. Borders, the book publishing company failed, while its competitors survive, because it failed to go with the technology. While its competitors come up with Kindle and Nook earlier, it released Kobo way too late to impress the customers and thus losing the game.

Find More On: 15 Business Ideas That Will Make You Your Own Boss

2. Poor Quality of the Product: Business Failure

biggest business failures

Customer is god, so it can never be accepted that they be provided with poor quality of the product. Your business is bound to fail if the product fails to satisfy the customers. The example of which is The Sharp Image which went into bankruptcy due to its Air Purifier which was believed to emit dangerous gases into the environment. This is one factor that immediately leads to business failure.

1. Wrongly Done Research: Business Failure

business failure

Bad business plan = business failure. No company can survive if it goes wrong on its research. No matter how best the product is marketed, if the customers do not need it, they won’t buy it. Therefore, before initiating a business or launching a product, make sure the product or service offered, is required. You don’t want to end up at Pets.com

While these are just a few examples, these are enough to warn the potential entrepreneurs. If you are planning to have your start-up or have a dream to start your business venture, make sure you keep these factors in mind so that you won’t disappoint yourself in future. Good luck!

Also, Check Out: Why Failing To Do Something Should Be Least of Your Worries

Article By – Born Realist

Comments

comments






Advertisement

Business

Things to Check When Hiring a Wedding Photographer in Bangalore

I have had the chance to hire a handful of wedding photographers. I have had family members get married and have played an active role in the hiring process of many of the vendors who took care of the event. One of the most important hires that are made to help celebrate and remember the wedding event is the wedding photographer. I have listed my top 5 items to pay attention to when hiring a wedding photographer in Bangalore.

5. The first is the price:

I say this because there are some absolutely fantastic wedding photographers in Bangalore available today who have only recently begun to do weddings because of the downturn in the economy. It is important that you check the price of the package before you begin to engage the person or company in any significant dialogue. I have found that many times people begin to really like the work of certain photographer only to then learn that the price of the service is far out of reach for the person purchasing the service. Learn this quickly and save yourself and the vendor their precious time.

4. The second is quality of work:

Be sure to have the chance and to take the time to review the work done for other clients of theirs after you have described what type of service you are looking for. This will give you a comfortable feeling about the photographer and allow you to relax while enjoying your big day. Many photographers have a certain style that they tend to stick with. If the style of your vendor is very different than the style that you would like to have at your wedding, consider that a reason to say no.

3. The third area is the professional appearance:

This is important because every one of your guests will look at the wedding photographer in Bangalore and will watch them work throughout the course of the big event. Be sure that they have a professional appearance and that they have the ability to blend in as much as possible. The best way to get a solid feeling for this is to actually go and see them work. Take advantage of the offer if it is available to you to go to see them. That visit can reassure your choice and allow you to be that much more comfortable on your wedding day.

2. The fourth area to look into is the area of the album preparation:

Be sure to check out the wedding albums of past clients and be sure to find one that is similar to the one you would like to have as your keepsake. Many photographers offer video services and complete album packages. Get the one you want, that you can afford, and one that the vendor has provided before. You do not want to be the first to try a new service out on your wedding day.

1. Finally, follow up service is extremely important:

When you speak with a reference, ask them about how prompt the vendor is at getting back to them when they had questions or concerns. Many vendors are very attentive before a sale is made but then less than quick when the money has changed hands.

Article by Born Realist

Comments

comments

Continue Reading

Business

Your Solution to All Mac Music Problems

The prevalence of online hosting resources is definitely great but sometimes, you can’t access the internet and desire to play a video offline. How can you do this? In this review, we’ll analyze how to download videos from this online sharing service using Elmedia – a high-quality video player for Mac.

Several Words about Elmedia

This is a modern instrument developed for the needs of Mac users, which can help you download videos from online hosting resources. It permits you to open any format of audio or video files or download content with a view to having it on your Mac device. The program is -endowed with an awful lot of cool and useful options, which make it one of the worthiest players for Mac on the market.

If you are tired of choppy playbacks and bad quality of sound, this program is what you really need. It allows you to watch high-definition films because it is based on hardware accelerated decoding. Forget about constant glitches or lagging, Elmedia shows what the quality of players should be.

You won’t run into difficulties related to the choice of formats. Elmedia can open MP3, MP4, FLV, SWF, DAT, MKV or AVI files.

It is available on Setapp – an official site of this software product where you can come across the data about all options, price, and compatibility.

How to Download Playlists?

In very deed, one can download the whole playlists from YouTube. Below, you’ll find and make yourself familiar with a step-by-step instruction:

• You should switch to the browser mode. Click a menu bar and pick up Window – Browser.

• Log in to your personal account and pick the Playlists tab.

• Click on a playlist.

• Define in what format a file should be saved and press the button “Download all”.

That is all! Now, you can see a playlist on your Mac device. They are saved in a “Downloads” folder, but if necessary, you can change their location.

How to download videos through the use of Elmedia?

This procedure is simple and not time-consuming. Firstly, you should integrate a player into a web browser. In doing so, you’ll receive a speedy access to a required mode. If you wish to embark on downloading content, please, follow the below-written steps:

• Find an appropriate webpage with a film or clip on YouTube. After that, you should copy the link and enter it into the required field in the player. If done, click “Go”.

• Change the filter to “Video”.

• Press “Download” button, which is located on the right side of your screen. Commonly, all downloads are stored in FLV format.

• When the procedure is finished, the software will save the file and you’ll have it on your Mac device. It will also be stored in Elmedia Player Library.

The procedure is more than just easy and every user (even if you aren’t tech-savvy) will understand how to use the core features of the app.

Elmedia is a simple and very useful tool for any Mac user. With the functionality of this software, you’ll forget about all difficulties related to playing videos.

If you need just a soundtrack from a video, Elmedia enables you to extract it. You can do this with ease and save this file in MP3 or MP4 formats.

The software is also compatible with AirPlay which means that all users of this app can play videos across different Apple devices. This feature is extremely useful when you make a video with iPhone but wish to see it on Mac book.

Elmedia offers a free trial version, during which you can check out all options, functionality, and apps work in the gross. If you are satisfied with the software, you can select a billing plan and upgrade!

Article by Born Realist

Comments

comments

Continue Reading

Business

10 Things That Only Exceptionally Smart People Do

Adapting adequately does not easily fall into place. It’s entirely the inverse. The human personality, if not controlled effectively, represents various crippling impediments that obstruct us taking in and deciphering data to our own advantage. Adapting, in any case, does not need to be upsetting or carefully observed. It’s just about knowing yourself and finding a sense of contentment with the diversions and mental blemishes that can be effectively maintained a strategic distance from in gaining a more careful and intriguing view of all that we hear, see or do. These are some tip for how to remain liberal and reinforce our ability for learning alongside the way we use it in our mission to discover what being a human is about. The accompanying strategies for mental upkeep will influence life and the general population in it to appear to be all the more energizing, dazzling and abnormally ameliorating. Here are ten things extremely savvy individuals do to have a mind that can see the outer for the protest of excellence and illumination that it really is:

10. Are Not Just Book Smart:

Image Credits: iStock

Savvy individuals have grappled with the way that there are a few things that can’t be learned in courses or by perusing a book. They comprehend that to prevail in a specific business and apply what has been educated to them in school, they have to encounter the truth of the business they are occupied with seeking after. This is the way to road smarts. Brilliant individuals know that abilities, for example, powerful correspondence or offers must be gained through genuine time with customers and associates in that particular field. They are anxious to get out into the world to discover each aptitude that would be expected of them should they attempt to become well known.

9. Continuously Question The Status Qu0:

Image Credits: Shutterstock

Boneheads simply acknowledge whatever is given to them and whatever is by all accounts “typical” to them. They absolutely never go well beyond to do some examination and question the real the present state of affairs. Shrewd individuals, then again, never acknowledge existing conditions and comprehend that on the off chance that it is the present state of affairs that implies there should be change and there are voids that should be filled.

8. Are Not Just Smart In One Area:

Image Credits: Shutterstock

There are individuals who are extremely proficient at one point and can discuss everything day except that doesn’t really procure them the name of “shrewd.” Smart individuals invest energy teaching themselves regarding any matter of premium that is well known to the majority. They can hold a discussion with respect to the financial bluff to the one of a kind wine they are drinking. Brilliant individuals pride themselves on their conclusion, and they realize that to make a significant one, investigate on specific patterns and why individuals are pulled in to them is an important strategy.

7. Demonstrate The Poker Face:

Image Credits: iStock

Once in a while, brilliant individuals don’t care to act like they’re shrewd just to try out the psychological limit of the general population they are managing. They will, for the most part, put on their poker face and imagine like they are simply inactively watching just to perceive what their crowd’s translation of the “reality of the situation” is. They utilize this strategy to consider the idea of the general population they are working with and framing a long haul association with. Along these lines, they can think of the best technique for seeming like they realize what they are discussing without offering something excessively new or confused for their associates to understand.

6. Comprehend the Concept Of Time:

Image Credits: Shutterstock

Shrewd individuals never enable diversions or mental turmoil to squander their chance in endeavoring to make sense of something. They can perceive what is helpful for their manner of thinking and their adventure to achieve their objectives rather than what is just pushing them more remote far from working they are hardest and remaining on track. A shrewd individual knows that the normal person keeps running into a few futile diversions consistently that exclusive fill an adverse need in their life. They know how to disregard these shams of “truth” and spotlight on utilizing the best of their capacities to be gainful for their own particular prosperity.

5. Calm Your Inner Voice:

Image Credits: iStock

Keen individuals find a sense of contentment with the way that there will dependably be a voice in the back of their head revealing to them they are incorrect, not adequate, and so on. They have comprehended that, as unbearable as this might be, that voice is just out to make them hopeless and wreck them from the productive and profitable aims of the heart. Shrewd individuals know what has transpired when they let this voice prevent them from running with their gut, prompting frustration and lament. You will soon find that the internal voice is making a bent reality of what is really going ahead at any given minute. A voice that is attempting to influence the world to appear to be such a great amount of scarier than it really is essential can’t be trusted.

4. Contend With Yourself:

Image Credits: iStock

Much like the previously mentioned inward voice, shrewd individuals have acknowledged that their own brains will commit indiscreet errors constantly, the vast majority of which more often than not go unnoticed until the point that route after the slip-up has been made. This is the reason they comprehend that each genuine activity ought to be twofold checked before it is submitted, regardless of whether they don’t want to.

3. Act Like You Are Curious:

Image Credits: iStock

Shrewd individuals follow up on the inquiries their mind quickly asks them when they are given a question or circumstance. They are really intrigued by the size, shading, shape, and importance of everything around them. On the off chance that something that discovers your appears to be especially baffling, record it and do some examination with respect to its properties and establishment.

2. Discover the Kernel of Truth:

Image Credits: iStock

The reality behind any idea or hypothesis is generally not what you would anticipate. Keen individuals endeavor to comprehend why the world works the way it does along why the vast majority don’t have a clue about the response to this inquiry. They need to wind up familiar with the building squares of society, for example, science, the economy, and even legislative issues.

1. Spotlight on the Message Not the Messenger:

Image Credits: iStock

It is anything but difficult to shut our psyches off from a learning background because of the idea of the individual conveying the material. Nonetheless, a substitute point of view from a new source can be significantly more intriguing than irritating on the off chance that you move beyond the common desire to judge. Keen individuals are receptive. They welcome the estimation of other individuals’ suppositions and don’t let what they don’t think about someone, in particular, upset their capacity to be interesting or diverting at any rate. Savvy individuals need each kind of cooperation to be a learning knowledge, which is the reason they center around the subject being talked about and its association with the whole outside world, not simply with the individual they are examining it with.

Article by Born Realist

Comments

comments

Continue Reading

Join The Doers Club

Advertisement