WHY WE FAIL AS ENTREPRENEURS

 WHY WE FAIL AS ENTREPRENEURS



 1. A VISION


You must first have a vision for the business you are establishing. Have a long term and action plan for the business.

Having a vision for the business determines the directions in which the business should go.

You fail as an entrepreneur in the job market if you fail to have a vision for the business.



 2. NOT ENOUGH MARKETING


We lack marketing strategy in Africa.

Many traders turn to treat their customers bad once the business starts booming and they start gaining more customers. Also the environment you set up a business really counts in marketing a business.

 As a marketer you should know that you can’t satisfy everyone but you should make sure you always do the right thing at the right time.

As a way of marketing, you should also make sure you are totally unique from all that others are doing.

You also need to come down to earth and respect each one as a marketing strategy.

   You fail as an entrepreneur if you lack marketing strategy.



 3. POOR CUSTOMER CARE


Many businesses have collapsed in Ghana and across Africa because of the numerous poor customer care.

How you see your customers determine the future of your business.

Never disrespect a customer because of his or her status no matter what.

Respect is reciprocal hence you should accord respect to those who come to purchase from you and they will also return the same respect. As an entrepreneur, learn how to entertain your customers.

You fail as an entrepreneur if you fail to offer good customer care.



 4. LACK OF PROPER PLANNING 


Many entrepreneurs fail in their businesses because they fail to plan properly towards the business.

Many people act upon what the see and hear but they don’t examine themselves to know what they can do themselves hence they just enter into the job market without planning properly towards it.



 5. EARLY GIVE UP


Many entrepreneurs lack the charisma to approach businesses they set up so they end up giving up very early in the business they have opened leaving the business to collapse.

As an entrepreneur, you must be very optimistic about your business so that you don’t give up early in it no matter what people around say.



 6. EXPANDING VALUE QUICKLY 


Many people fail in businesses as entrepreneurs because they rush to expand value instead of focusing much on one to sustain it properly.

Whatever business you start must have a grounding and a strong foundation before you seek to expand it.



7. LACK OF SUCCESSORS 


Many businesses collapse because we fail to to engage people in the running of the business so that in our absence they can take over.

As parents who have an established business, try your possible best to engage your children in the business affairs. Sometimes engage your children in the running of your company so that when you are not around the business will not collapse but be taken care of by your children and managed properly.



        - Counselor Tonny Yeboah

        Tel : +233 54 464 6695









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