The 6 Main Reasons Businesses Fail and How to Avoid Each

Date: October 8, 2016  Posted in: Commentary  Comments: 0

There are several reasons why a business might fail. One reason is having an idea, but no plan or understanding of the industry. Another reason is hiring the first employee that meets the requirements. It’s better to spend a little time finding the right fit. Additionally, friendship must be used with caution in the office setting. It is also important to have trust in the workplace and to properly handle disagreements. Lastly, emotions, namely guilt, complicate business decisions.

Key Takeaways:

  • As we pursue success, we are also avoiding failure; and whenever we fail, we also elude success, thus success and failure are intimately connected.
  • Hiring out of necessity is the costliest mistake in business.
  • Genuine disagreement based on different approaches to solving the same problem is the foundation of learning and progress.

“The whole point of organizational learning is to acquire, categorize and apply the necessary knowledge to support our strategic and operational efforts in all foreseeable scenarios.”

https://www.entrepreneur.com/article/281795

Constraint Breaker

Leave a reply

Your email address will not be published. Required fields are marked *

Last Posts exclude current using advanced filters

none

5 Things Your Business Should Outsource

div#keypoints { margin-left: 2em; margin-top: 0.5em; } li#takeaway1, li#takeaway2, li#takeaway3 { } p#quote { background-color: #AFEEEE; padding: 1em; margin-top: 0.5em; font-style:italic; } W...

 

Read more

Blogging Your Way To a More Powerful Brand

This article stats that blogging is one of the most powerful ways to push your brand or product. You must write to gain a following, but you also must write in a way that stands out from the rest of ...

 

Read more

Strategic Leadership Skills

A good leader will possess some skills mentioned this this article to be wholesome. One important quality of a good leader would be their ability to connect their long term goals with their present l...

 

Read more