Have you ever noticed a negative progression in your small scale business over the past few years?. There are countless online businesses and business people failing in Nigeria and the world over. Many young entrepreneurs like myself with brilliant ideas are shutting down faster than they started. This trend has discouraged many who may wish to make money online through arrays of promising internet business opportunities. The problem is mostly attributed to poor businees practices and unfriendly attitude towards customers and clients.



Signs of looming failure in small scale business may start or include:

A decrease in response rate to your advertising.
The cost to make a sale or keep up the business is increasing.
Losing as many customers as you gain them, or not gaining any new customer while losing the ones you already have.
A drop in profit margin or pressure to reduce price.
The investment to attract a new customer has slowly been increasing while at the same time your customers are leaving in greater numbers than ever before.
Lots of things are shifting in bitter waves, and many entrepreneurs are not aware of what is causing the erosion of business. Adding to the list of negatives, it also seems obvious that the lifetime value per customer is depreciating, and the average value per-transaction keeps shrinking.

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Complacency seemed not to have any negative effect in my business when i started off in 2007, as i was raking hundreds of thousands in monthly profit just barely 5 months from launch, without major advertising, giving false credence to the poorly conceived notion that good product sells itself.

Just like me, most entrepreneurs with great small scale business ideas, products and services believe that they have become invincible, thereby making them run their business like it's some fortune 500 company devoid of sincere customer concerns and much emphasis on "numbers" in terms of revenue.

READ MORE HERE: http://www.instapy.com/business/why-entrepreneurs-and-small-scale-business-fail-tips-for-succe/