SA Business Hub - We take pride in offering the most practical and effective small business tools, knowledge, resources and coaching for you to lead your business to success!    
Not logged in  |  Click to login

Powered By: Crafty Syntax

HomeForumHR & PerformanceE-CommerceStart-UpAccounts & FinanceClassfiedsOpportunities
Business FormsLeadershipMarketing & SalesBEEBusiness ServicesLive Events Calendar
 
Join us on Facebook!Follow us on Twitter!Follow us on LinkedIn
AffiliateHelp
Join2 Minute Tour
  
 
Company secretary services (RSA Only)

For a flat fee we will represent the company as it’s company secretary. This will include the registered address service, updating the statutory books of the company and filling the annual return. We will also be able to answer your questions relat...

More detail...
 




       
 
The simple mechanics of doing more and working less

"Out of clutter, find simplicity. From discord, find harmony." Albert Einstein

What makes a company great? You know the instant you walk in the door. It is organized, efficient and clean. Its employees are engaged, knowledgeable and eager to please. It is innovative, relevant and very successful...

More detail...
 


 



Posted: 2005-06-01 / Author: Alyice Edrich

Small Business South Africa: 25 Top Reasons Why Businesses Fail

Starting a business, whether it be from home, or in an office somewhere, may sound like the perfect solution to your working blues, but unless you're committed to making it work, you can find yourself on the losing end real quick.

Businesses fail for many reasons. It is important to understand those reasons so that you can decide whether or not you are up to the challenge. Those reasons include:

1. Fear—Whether it is the fear of success or the fear of failure, fear of stepping out of one's comfort zone to try something new, or the fear of trial and error. Fear can freeze a person dead in his or her tracks.

2. Failure to plan.

3. Lack of funding.

4. Procrastination

5. Excuses. Especially making an excuse for any and everything that causes you to stumble.

6. Doing busy work. Keeping busy doing unimportant tasks.

7. Inability to delegate tasks. Sometimes delegation saves your business. If you have a weakness, hire someone who could turn that weakness into a strength. Use others to complete simple time consuming tasks so that you can do other things.

8. Failure to Research.

9. Failure to Market.

10. An inconsistent advertising campaign. It is better to have a ton of small ads on a regular basis than one large ad on a monthly or yearly basis.

11. Your pricing is too low, thus resulting in a negative cash flow.

12. Bad accounting practices.

13. Choosing quantity over quality. Cutting corners is bad business sense.

14. Dishonesty.

15. Not fixing mistakes.

16. Not completing tasks in a timely manner.

17. Inability to follow-up. You should always follow-up by email, snail mail, or phone.

18. Not listening to client or customer. Talking too much.

19. Spending too little. It takes money to make money.

20. Spending too much. Purchasing items when you don't need them, upgrading when the older version will do, letting suppliers talk you into things you cannot afford, and not budgeting.
v 21. Being unprepared for fluctuations in business. Boom times when demands are high as well as slow times when you are struggling to get by. (Put money away during boom times to prepare for slow times.)

22. Lack of diversification. If you only offer one product or service, losing it can destroy your business.

23. Reputation. While a good reputation will gain you tons of business, a bad reputation could close your business.

24. Cockiness. There is nothing wrong with feeling great about your products, services, or accomplishments. Just don't let pride and arrogance destroy your customer relations.

25. Discouragement. Giving in to your feelings of discouragement, when things do not work out the way you planned or succeed as fast as you thought. Also allowing others to feed on any discouragement you may already feel.

--------------------------------------------------------------
Alyice Edrich is the author of several work-from-home e-books, including Tid-Bits For New Signing Agents—where parents earn $25 an hour without party plans and MLM programs. She invites you to stop by http://thedabblingmum.com/books/index.htm to order a copy today!


Top of page
 
 





SA Business Hub

Call Us on 0861bushub(0861287482)
© 2005 - 2008 SABusinessHub (Pty) Ltd. All Rights Reserved.