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Yes again no.
Well I would ask myself if this is something really I wanted to do, if I am enough passionate and enthusiastic about the business that I am into. If the answer is yes then don't give up, the problem could be minor but hasn't came to your attention yet.
If its something you are very passionate about , let say Fashion retailing and you are not succeeding in growing your business or staying in the market for long then I would suggest to identify the weakness of your business, check out what other business who are operating in the same industry how they are doing, whats their strength and weaknesses. Ask customers for their feedback about your business, products, location, the more information you can gather the more you will you will be able to identify areas of improvement.
If its something that you are not expert on , take help of an expert to do the research and evaluate all the key factors that your business needs to improve in order to progress.
It actually varies from businesses to business, as you can know that a KFC restaurant will be able to beat a local fast food shop anyway, its because of brand power, effective marketing and promotion strategy, gaining market share and they have specific target audience.
Lots of restaurant and coffee shop business fails in UK because of poor business planning, location and not meeting customer requirements or expectation, this was a good question and i would suggest our readers to read further in the following links.
A must read - http://thecareercafe.co.uk/blog/?p=8
You must must read this one - (Le lien a été supprimé pour non-respect des conditions d'utilisation. Veuillez contacter l’équipe d'assistance pour plus d'informations.)
Hope this was helpful :)
No you shouldn't, But what you should definitely do is to evaluate the reasons of failure in each time you started a business. usually entrepreneurs put too much focus on making the perfect product, while it is actually not needed, first focus on the product / market fit? Ask yourself, is the product / service you'd provide needed by people? and are they willing to pay for it? where can you reach them? and what is the best channel to do so? Prototype and be proactive about seeking feedback regarding what you offer so you would keep improving step by step.
No, of course not! Ever heard of a product called WD40, it is something car mechanics swear by. It has the number 40, because the first 39 attempts failed. it is a multi-billion dollar product now! The fun in start-ups is the sense of adventure and not every adventure leads to Treasure Island. It does, however, hopefully add knowledge to learn from for the next attempt.
Thanks for inviting , so far i agree with Brother Mustafa answer
Dear Ms. Nadeem,
Greeting from Karachi Pakistan!
Million thanks for invitation .
A= Keep starting businesses and failing?
Ans: Starting a business is like building a new house,If bricks in the foundation base are tilted than walls build on it till moon will be also tilted.
B= Does that mean you should stop trying?
Ans: No stopping ,Keep on trying until you succeed.
C=What do you think is the problem?
Ans: Can be due to Lack of Motivation,passion ,mentoring & business plan.
e.g:
1st step New business plan idea is based on "Unmet needs" of people around you based on your research .
2nd step Idea Validation by mentor.
3rd step Development of business plan or road map for how to set business goals & objectives & how to achieve them.
4th step Angle investors .
5th step Boom in business.
Last but not least remember despite all law of nature for new business success rate is1 out of just like human conception in mother's womb.Have frim belive do not lose hope be dertermind.
Regards
AGG
Thank you for the invitationOn the contrary, failure and try to perform the work in itself is an acquired expertise and knowledge through attempts and can say, as Thomas Edison said, I did not fail, but I found the experience of one hundred for not lighting the lamp
