Why your business might fail

Reg’s Business Success Videos

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Top Ten Reasons Businesses Fail

Procrastination.

Tasks & paperwork pile up They will eventually overwhelm you.

Ignoring the competition.

Customer loyalty has declined Go where they can get best products

and services. Monitor your competition Copy their best ideas Schedule time each week to create

new methods, products & services.

Sloppy or ineffective marketing.

Contrary to popular cliché: few products or services sell themselves

Either you market your products/services or hire someone who will

You must do it well.

Ignoring customers´ needs

One you attract, you must work hard to keep them.

Customer service must be a cornerstone of your business

Customers will leave unless you take care of them.

Incompetent Employees

Hire for job fit Only essential employees Create work environment that

supports your employees needs.

Lack of versatility

You may be adept at the technical part of your business

Must be good at acct, marketing, hiring.

Poor Location

Consider: Traffic Parking

Close Signage

Convenience.

Cash flow problems.

Track cash coming in and going out Create a cashflow budget Use MS Money, Quicken or Quickbook.

A closed mind

Don’t be surprised if your preconceptions are wrong

Find a mentor to give you perspective Read books and magazines Join a small business Mastermind

Group.

Inadequate Planning

Begin with a written Business Plan Include specific marketing strategies

and tactics Create an action plan in your calendar Consult your plan daily.

Reg’s Business Success Videos

If you liked what you saw, subscribe to my channel @ www.youtube.com/user/reggupton

Watch other videos at www.businesssuccessvideos.com

Email me @ gupton@growthseminars.com

Follow me @ www.twitter.com/reggupton

Find me @ www.facebook.com/reggupton

Add me to your Linked in network www.linkedin.com/in/reggupton