Updated: Dec 13, 2018
We all know that a business eventually dies if they’re not having enough sales but not everyone knows why the certain businesses dont have enough sales.
1. A lot of business owners are lazy.
They want customers to come to them, they do not put effort into getting their brand out there. They do not care about visuals nor do they care about properly presenting their brand well.
2. Most business owners start a business with the hopes that the same business will cater to their personal bills. ONE business will not able to provide. The more you grow, the higher your bills go. If you’re branching out, make sure your investments are branching out as well.
Shop our digital 2019 Planner for investment ideas and learn how you can have more than one source of income. https://www.thepapermoney.com/product-page/2019-planner
3. Lack of planning – Businesses fail because of the lack of short-term and long-term planning. You set yourself up for failure if you do not have a plan. Most people rush to opening a business without a plan. They don't know what to do or when to do certain things because they had no plan. It is very important that you choose to plan your business, plan for your losses, your profits and everything else in betweeen.
Shop our business planners so you don’t have to stress about what to plan. We’ve outlined the important details for you.
4. Most business owners lose focus. They get too excited and they lose direction. They don’t put in the same effort anymore and they lose money. Listen, if you started with your A game, finish with your A game. It’s okay to take breaks in between if you feel like sh#t’s hit the fan.
5. Most business owners don’t take care of themselves so they don’t take care of their customers. How will you take care of other people if you’re a mess yourself?
6. It’s never personal. Clients can get really rude. They do that sometimes.
7. They don’t know their numbers. Most businesses don’t know how many products they need to sell in order to be financially stable and they don’t know how to push these numbers either. Let’s say a restaurant needs to push out 50 plates per day to meet their demands it is not enough that they do not Meet their expectation, they just don’t know how. Some people think they can manage without any advertisement or shoutouts but it takes a village to grow a business. Invest in your business. It will pay you back.
8. They don’t know what they want- if you’re an entrepreneur you already know what you want. Some people don’t know. It’s always the case of “I just opened a business and I don’t even know what I want my business to look like in 2 years.”
You have to know. It is your job to know. You have to be responsible of your goals, dreams and plans. Take full action. If you don’t, you will decide that the business was not made for you and you will quit.
9. Your business is a clone.
You know how you find like same products from different brands and they’re all the same. Same packaging, same colors, same theme and you think Gosh! This is made in China huh!?
Well someone might be thinking the same about your business. If you offer the same thing as your competitors, you choose to copy them or you choose to not change a few aspects of your business, someone else will knock you off the market. You have to make sure you stand out, your products stand out, your advertising is great, you interact more with people and you have more to offer. Create the competition, be the competition.
There are more tips and tricks you can read from our Online Shop Workbook, we have more than 10 tips on how to grow your business and how to survive in the market.