Djoeang.com - Why do so many business out there fail,?? Today, Finding a job wasn’t easy. Businesses struggled, but we've still must be survived with this bad situation, in the intense competition for the survival
But before you read all of this, I wanna show you an quote,
don’t be afraid to fail or make mistake. Success defined by learning from the failure, and not make the same mistake again.
Success is not measured by money or assets but knowledge and experience to keep moving forward.
“Stay hungry, stay foolish” Steve Jobs
A lot of businesses falls into the “I think my product is superior to others” fallacy too and fail. Even if they truly do have superior products, it needs to be demonstrated and tried out. No one is gonna fork out thousands or millions of dollars without some proof
This is a wrong mindset will make your business failed, try take a lesson from Nokia
Nokia was failed to match the competition when the other starting to make innovative feature, Nokia still confident that their phone still be unbeaten on the market
Today ? They're nothing
But it's just not one the reason why so many startup fail
The biggest problem is undercapitalization.
You don’t have the money needed to stay in business long enough to create a customer base or to change your business model if it’s not producing.
You need far more money than you think to create a profitable business.
Manage the business on facts, not hopes and dreams, and you will be successful
The formula is :
Experience + Idea + Capital + Costumers database = success
The first thing you need is experience, that's why I put an quote above, plenty experience make yourself more mature in reading market situations, don't be afraid with your mistake, success coming from that
All the people have their own idea, we're so rich about that, but how to make your idea useful ?
The real idea it's not just about idea, it is more about creating situations and attachments, make the people attached with you and they're make you rich
Simply put it this way, idea it's doesn't mean solving your problem, idea is mean solved people problem or create people problem and solved it
It doesn't matter how many the seminar you attend or the book you read, experience is mostly important thing if you want to success on your business,
Learning from past mistake is the most expensive price
Continue to capital, is the next poin that you must have if you want to success,
Idea + experience + undercapitalized = absurd
Many people think that's is the biggest problem if they want to success to building business,
But it's not just only biggest problem to building, but how to survive financially,
In addition, it is very important to determine how and where you get capital to support your business.
The answer is only two, you fund your own business with personal funds or find investors to help fund your business.
But again, think that's will be easy ? You're totally wrong
You need hard effort to reach that
Maybe you have completed the requirements above and have already built a business,
What next ??
You needed costumers databases
What is costumers databases ?
The customer database is a comprehensive, organized collection of data about customers and individual prospects that is current, accessible and can be used to achieve marketing objectives such as identification of prospective customers, qualifications of prospective customers, sales of products or services, or maintenance of customer relationships