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Dominic Goss
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4 Reasons Why A Business Might Fail

Published on 11/22/2017
For additional information  Click Here

Expecting overnight success, doing everything yourself, believing you know everything and cutting prices are some of the main reasons why a business might fail. If you read further we will examine these reasons in more detail.

Expecting Overnight Success

As with SEO, time and links are important ingredients for success. With business, you can't expect to make a tidal wave of sales the day after you launch your website. Everything takes time. It takes time for people to hear about your offer and weigh up whether it's a good buy or not. Coca-Cola only sold a small quantity of it's famous cola in the first year. Word of mouth is still the best advertising method as it carries the recommendation of experts or friends. 
?Doing everything yourself

It's acceptable to have a one band business, but you need input from other people to help you find better ways to do things. The web is a good place to build contacts and there are many places to build your contact networks. Social media is one of those mediums. Facebook boasts a membership count of over one billion people, and other various social media platforms have memberships of hundreds of millions. Linkedin is a good place for building business contacts, but there are also other business networks like IBO Toolbox for Independant Business Owners, which includes writers, network marketers, affiliate marketers and internet marketers.

Believing that you know everything

People with decades of experience are finding new and better ways to do things every day and they are sharing their findings through articles, books and products. Ignoring the most intelligent people in society will ensure that your ride will be slow and fruitless. It is important to stay up to date and buy the good books and products to make building and growing your business easier.

Cutting Prices to Be Seen as the Cheapest

Having the lowest price on products is not possible if your business is a small to medium business. Only the huge chain stores can afford to cut prices to cut profit margins. They do this because they believe they can move massive amounts of product to make it worth their while. Their supply chain costs per product is also much less than a small business's logistic costs. As a small business owner you can provide something the big chains are unlikely to be able to provide and that's expert advice and quality customer service.

Not giving your business time to develop and gain a foothold in the market, doing it alone, and cutting prices where you can't afford to, lead to your business failing. All these events lead to your business having less cash and businesses find it difficult to survive without cashflow.

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