The Business Autopsy: A Fact Of Life

Written by Tim Knox


Continued from page 1

Believe me, I know.

The final contributing factor torepparttar death of sixty-three percent ofrepparttar 148042 businesses who died from bad management was thatrepparttar 148043 owners had no relevant or applicable business experience.

Bad financial planning wasrepparttar 148044 second reason sited byrepparttar 148045 survey as to why most businesses fail. In business, it's always about money. According torepparttar 148046 U.S. Bank study, eighty-two percent ofrepparttar 148047 business failures studied reported poor cash flow management as a contributing factor torepparttar 148048 death ofrepparttar 148049 business.

Seventy-nine percent ofrepparttar 148050 businesses were inadequately funded, and seventy-seven percent miscalculatedrepparttar 148051 cost of doing business. In other words, they failed to take into account all ofrepparttar 148052 costs involved when settingrepparttar 148053 price for their products.

Let's move on to my favorite subject: bad marketing. You've heard me preach this sermon before. You can haverepparttar 148054 greatest product inrepparttar 148055 world, but if your marketing efforts are inadequate or ineffective you will end up with a warehouse full ofrepparttar 148056 greatest product that no one inrepparttar 148057 world has ever heard of.

The study showed that bad marketing was a contributing factor inrepparttar 148058 death of sixty-four percent ofrepparttar 148059 businesses surveyed. Many of these misguided entrepreneurs either minimizedrepparttar 148060 importance of marketing and promotion or ignored it totally.

A vital part of marketing is knowing who your competition is and always knowing what they are up to. The entrepreneur who ignores his competition is a fool (gee, was that too harsh?) and is always destined to fail, as proven byrepparttar 148061 fifty-five percent ofrepparttar 148062 dead businesses inrepparttar 148063 survey who either didn't even know who their competition was or simply chose to ignorerepparttar 148064 competition altogether.

Here's a nice hole inrepparttar 148065 sand for you, sir.

Please insert your headÖ

Another mistake made by forty-seven percent ofrepparttar 148066 deceased businesses was that they relied on just one or two customers forrepparttar 148067 bulk of revenues. This is a common mistake made by many business owners who devote all their energy to one huge client. What they don't seem to understand is that if that one customer goes away, so does most of their revenue.

When performing your business autopsy you might identify other contributing factors that were beyond your control, such as a down economy,repparttar 148068 lack of qualified employees, new government regulations that negatively affectrepparttar 148069 way you must do business,repparttar 148070 failure of a strategic partner, etc..

There will always be things you can't control. The key to business success is to keep control of those things you can and do everything you can to prepare for those things you can't.

Next time we'll discuss a few things you should and should not do to help ensure your business success.

Here's to your success.

Tim Knox

Tim serves as the president and CEO of three successful technology companies and is the founder of DropshipWholesale.net, an online organization dedicated to the success of online and eBay entrepreneurs. http://www.prosperityandprofits.com - http://www.smallbusinessqa.com


Incestuous relationship between football and marketing

Written by Arvind kumar


Continued from page 1

According to Al rise, marketer depends too much on customers expectation, customers feed back, market situation. This restrict their visions of future and make them less than bold marketer should concentrate more on competition to stay a head ofrepparttar game. Let me show this. Takerepparttar 148041 example of Michael Dell it is best policy is to do what is not possible today. Competition is still catching up with Dellís fanaticism of speed of supply chain and Dell next move is to play catching up game.

Second example is Nokia Vs Motorola started a program to bring it quality up to 2 to 3 fault per million, a small unknown funnies company moved intorepparttar 148042 space, which Motorola has left behind to removerepparttar 148043 Motorola from king position. Football coach knownrepparttar 148044 importance of marking uprepparttar 148045 first kick will keeprepparttar 148046 opponent morale down. And thatís one of most favored strategy of football coaches leave alone one or two cases.

A super performer marketer know very wall, when to leave battle field for opponent to make him tire competition would jump in, throw their reserve and exhausted. And many times inrepparttar 148047 process getrepparttar 148048 black name in market. And then they jump in to finish offrepparttar 148049 game. Competition loose out allrepparttar 148050 reserves to thwartrepparttar 148051 attack.. Great Marketer give, their competition, pass to go a head when they see they will surely findrepparttar 148052 dead wall in front of them. They do it obviously. May be some see their Timidness in to this act. But in end they understand what they were up to. Similarly when a defender seerepparttar 148053 opponent striker is a head of him when ball is still inrepparttar 148054 mid field. He gives him a pass and whistle go on.

It is an off side, my dear friend.



This research work for this report is done by Mr. Arvind Kumar, founder, www.Nuttymarketer.com You may reach him at arvind@nuttymarketer.com .

Arvind Kumar is an Electrical Engineer from a premier Institute, Indian Institute of Technology, Delhi, India. He has 3 years experince in marketing business consulting services and marketing services. He is founder and CEO of www.nuttymarketer.com


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