What makes people lose in their business ?
Failure to have positive mindset
First of all to be able to sustain in a business, you need to accepts yourself and believe yourself that you are a winner. Never dis-value yourself in the society, as business man people needs to know that you are sure of what you are doing and your future. You have to believe that your business will grow and flourishing. People who lose in business and get off o business are those who do not trust themselves, those who put fear forward, do not know what they need, and actually those who have negative mindsets in there business. For-example thinking of losing much than winning, this will makes you not to dare move one step ahead.Failure to do research about their failures
People who always lose in business are those who do not track and do research of their prior failures. As a businessman or woman you need to think always, why a certain product isn’t marketable ?, why customers A and B stopped coming back to make purchases?, why total sales went down ?, why sales are high but profit is low ?.. These are sample of questions that you as businessman you need to ask yourself all the time in your business. And when finding the answers, you need to take immediate actions.Allowing their competitors to win them
Most of people fail in their business because they let their competitors win them. There are several ways to protect yourself from being taken over by your competitors;- First you should increase your effort and innovation. For example you can decide to change the look of your products to create another feel to the customers.
- You need to improve the ways you advertise your products.
- You may change the look of your business environment to make it new and attractive to the customers.
- Put yourself clean as well as your business environment.
- Use more good and polite language when interacting with your customers.
- You may use discounts in some products to attract customers more.
Failure to understand the needs of their customers
The customer is always the king, if you fail to understand what he or she needs you are probably going to be thrown out. It is important to look back to you sales book records.. and find out what are the most purchased products.. that means those are giving you a clear picture of what your customers need most. Then start listing them by considering priority. Then do a simple research or spy to your competitors, what products do they sale most and not them down.. that means if you have them all, then you have all what customers needs.Read Also: 7 most important things that will make you be a successful entrepreneur
Failure to be trust worth and faithful to their customers
All the time is important to stay faithful and trust worth to your customers, you need to make sure they don’t get upset. This is because most of the people who lose in business they have the behavior of rising the prices of products when they notice that;- the customer is new to the product.
- The customer has a lot of money.
- The customer is an old man or woman and doesn’t know of anything concerning the actual price of the product.
Lack of knowledge and skills on the business they do
Other people become losers because they do not have the knowledge of the business they are running. They are people who do copy others businesses and try out. Always you need to find knowledge first of the business that you personally love and have dream for and not copying what others do. This is because every business person you see has his own strategies to handle his or her business and that makes them successful and sustain in the market.Read Also: 5 Ways to succeed financial in Entrepreneurship
