The Business Autopsy: A Fact Of Life

Written by Tim Knox

Last time we discussedrepparttar importance of performing an autopsy on a dead business. No, I haven't been watching too many of those wonderfully graphic, TV forensic investigation shows. The reason I recommend you do a business autopsy is to uncoverrepparttar 148042 exact reasons whyrepparttar 148043 business died. This is valuable information that can not only heal feelings of personal failure, but also better prepare you forrepparttar 148044 pitfalls of business should you ever takerepparttar 148045 plunge again.

Starting a business is never easy andrepparttar 148046 odds of your success or failure are about even money. The fact is, approximately half of all small businesses fail withinrepparttar 148047 first four years. And a large percentage of those failures occur withinrepparttar 148048 first year. These arerepparttar 148049 statistics that keep many entrepreneurs awake at night. Like Sisyphus, always pushing that boulder torepparttar 148050 top ofrepparttar 148051 hill only to have it tumble back torepparttar 148052 bottom each time, you never know when you're going to lose your grip on your business and have it tumble back over you.

OK, so far in this column I have managed to squeeze in references to modern American television and ancient Greek mythology. Enough highbrow beating aroundrepparttar 148053 bush. Performrepparttar 148054 autopsy and learn from it. Only by knowingrepparttar 148055 real reasons your business died can you identify and hopefully stave off those maladies before they take you down next time, if there is a next time. And if you're a true entrepreneur there will be a next time, trust me on this.

There are many reasons why businesses fail, but according to a recent survey by U.S. Bank,repparttar 148056 majority of business failures can be attributed to three reasons: bad management, bad financial planning, and bad marketing.

Bad management comes in many forms. The survey showed that seventy-eight percent ofrepparttar 148057 business failures examined were due in part torepparttar 148058 lack of a well-developed business plan and a business owner who had no business being inrepparttar 148059 business he was in. In other words,repparttar 148060 business owner did not have an adequate knowledge or a thorough understanding ofrepparttar 148061 business he had chosen to start. This is why software entrepreneurs like me don't start shoe stores. I have feet, I wear shoes. That's not enough to qualify me to go intorepparttar 148062 shoe business.

Next, seventy-three percent ofrepparttar 148063 business failures inrepparttar 148064 survey were also manned by owners with rose colored calculators. These business owners over-estimated revenue projections (the number of expected sales) and under-estimatedrepparttar 148065 burn rate (the amount of money required to sustainrepparttar 148066 business per month).

It gets better. Seventy percent ofrepparttar 148067 failed businesses inrepparttar 148068 study were led by entrepreneurs who were in denial regarding their own competence, or more torepparttar 148069 point, their own incompetence. These business owners either didn't recognize or chose to ignore their own entrepreneurial shortcomings. These entrepreneurs also did not seek assistance from others who might have made up for their inadequacies. It's sometimes hard to ask for help when you are supposed to berepparttar 148070 one with allrepparttar 148071 answers.

Incestuous relationship between football and marketing

Written by Arvind kumar

Thousands eyes were fixed. Hearts were beating hard againstrepparttar chests. Emotions was high, expectations was weighting on warrior on football field. This was a article moment for David Bekham. He has to take a direct free kick. Human wall was erected in front of football a few yards away. Opponent and helping hands were scattered around inrepparttar 148041 D-area hustling and bustling. And whistle went off.

Bekham tookrepparttar 148042 kick. It went high in air, cutting it at a very peculiar angle, 46 eyes onrepparttar 148043 field and thousands offrepparttar 148044 field were fixed onrepparttar 148045 rotating wonder. Ball takes a swirling loop and rest is history.

Some says it wasrepparttar 148046 air, some says it wasrepparttar 148047 ball who didrepparttar 148048 trick. But history has given a name to this loop, “Bend it like Bekham .” Not many loop are famous like this.

Marketing strategists and marketing need to learn a lot from football, game .What wasrepparttar 148049 price of Bekham skill. Priceless! Similarly, Marketing general deliver and perform when emotions and expectation are touching bottom. That definesrepparttar 148050 difference and worth of these super performers from mediocre. They keep their cool , eyes fixed on target regardless of tense situation around . They do unexpected which even their intense opponent do not expect it. Performers known whenrepparttar 148051 iron is red hot.

Football teaches marketerrepparttar 148052 superiority of personnel, A-team playing with 10 player against 11 player will always be one down similar, a sales force superior in number torepparttar 148053 competitor will be for better.

There would always be a fight between quality and quantity. But as marketing Guru AL Rise say that marketing general never draft their strategy based on quality of personal . That is a risky bet and Erratic performance can divestrepparttar 148054 best lay at plan.

Strategy should get success regardless of success of tactics. Similarly match of football should be won regardless of what happens inrepparttar 148055 games at all cost.

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