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16 REASON WHY BUSINESS FAIL
Everyone will demand success in their business but failure will always be there. Almost 90% of business started ended with failure. Below is the reason why, and make sure do not follow the steps of failure.

1. No Target
There is no clear target of what your business will achieve. Is it 1 year from now? Is it 3 years from now? Is it 5 years from now? Is it 10 years from now? Clear target will help to drive your business. Without a clear target, the business will have no motivation to grow.

2. No to “Customer is always right”
Customer is asset to any business. Business is to fulfill customer needs. Customer is a KING!

3. No t promoting sells
Profits come from the sells made. It’s very rare sells to come automatically. Entrepreneurs/businessman should ready to drive the sell.

4. No patience
Many people think that is easy to become rich. To be entrepreneurs is to be patience. Profit must be expected in long term period and not to have maximum profit in short period.

5. Fail to put priority
20% of effort will bring 80% of profit. For those who fail to put priority to focus 80% which will bring 20% profit. Disseminate task to get more time to focus on 20% effort and bring 80% of profit.

6. Do thing out of your interest
The best thing is, doing business which is related to interest. So, it will motivate you all the time.

7. Product or service not competitive
Nowadays competitive levels in business become very high. Business must be unique, in the niche market, cheaper or faster than the competitor.

8. Product not fulfill customers’ need
There must be products to sell to start a business. But it must suit customers’ need.

9. No quality in product and customer service
Quality product and customer service are two important things in business today. Competitive level is high and customers have many choices. So, the choice is in the quality of product and customer service.

10. Fail to identify customer
Do you know your customer? Do you know in what community they live in? How can you reach them? The strategy is to identify the niche market. Hence it is easy to get the sell.

11. Fail in financial management
Get to know your business financial management. Ensure each transaction recorded; even the small thing you buy. Be smart to spend for business. There is a risk in business but the good thing is you make risk analysis.

12. Fail to follow trend and market
Trend and market grow significantly with time. Last time walkman is very popular, now it’s MP3! Entrepreneurs/businessman should aware of the market trends.

13. High overhead cost
Almost every time overhead cost will reduce the profit. Ensure overhead cost is at minimum level.

14. No strategic planning
No plan for your business mean you plan to fail. Plan your marketing strategi to get more customer and ready to expand your business.

15. Plan without action
Planning is just a first step. Plan without action will not give any resutl. Anything that has been planned must be implemented. Failure is an experience that teach you to change your plan. Failure is a GURU!

16. Fail to communicate with co-workers
Good relationship with workers will ensure the motivation among themselves. So they will be more motivated to work harder.

Click here to read original article in Malay.