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Nairaland Forum / Nairaland / General / Business / Top 5 Causes Of Business Failure And How To Avoid Them (UPDATED) (651 Views)
7 Major Causes Of Business Failure And How To Fix Them / The Number One Cause Of Business Failure And How To Avoid It / Top 5 Causes Of Business Failure And How To Avoid Them (2) (3) (4)
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Top 5 Causes Of Business Failure And How To Avoid Them (UPDATED) by PatrickOkunima(m): 12:05pm On Apr 20, 2020 |
1. Having a vision without a plan. Every business person has a vision for his or her business. For the big businesses, the vision is well-articulated and documented. This may not be the case for the small players, but at least, they have an idea of how successful or how big they want their businesses to be – that is their vision. The problem of having a vision without a plan is peculiar to small businesses. For example, you own a restaurant and will like to have 20 branches by the year 2030. If you are really serious about it, then you must draw up a plan to actualize your dreams. Your plan does not have to be in 20 or 50 pages. A page or two is enough. The most important thing is that your vision can be actualized through your plans, and that you stick to it, and make adjustment only when necessary.https://blog.vapatrick.com/2020/04/19/top-5-causes-of-business-failure-and-how-to-avoid-them/ cc: Mynd44 Lalasticlala
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Re: Top 5 Causes Of Business Failure And How To Avoid Them (UPDATED) by skedman(m): 12:22pm On Apr 20, 2020 |
Very billiant write-up keep it up |
Re: Top 5 Causes Of Business Failure And How To Avoid Them (UPDATED) by PatrickOkunima(m): 3:16pm On Apr 20, 2020 |
skedman:Thanks. |
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