Hello,
Greetings all of you. I hope every steem entrepreneur member are well. I am also well by the grace of God. Today i share my post which topic is "Some reason why business fall ". It is very important topic for entrepreneur.
What is business?
A business is defined as the organisation or entity entrepreneur engaged industrial activity. The important definition of business is something that operate to get profit. Not all business makes profit but their main target is to increase his business and get profit.
Types of business
- Partnership
- Sole proprietorship
- Limited company
- Corporation
- General partnership
- Non profit organisation
Reason why fall business:
Customers satisfaction:
When anyone start his own business he need to focus on customers satisfaction. Because his company can profit if he get enough customer to buy his product or service. When customers be dissatisfied to the company they abstain from the company to buy something. As a result the selling rate of the company decrease. And then the company get lose and did not get profit. So customer satisfaction is one of the main reason of business fall.
Ineffective business planning
Before starting business you need to make plan that how the business run. Your thinking must to more effective to increase the growth business. Ineffective business plan create a negative impact to the business and it makes you behind from the other's competitor.so ineffective business plan is one of the reason for business fall.
Lack of capital
When you start your business you need a reasonable amount capital to run business. But when you have not enough capital it would be very difficult to run business. Beside you need to marketing your product or service but lack of capital you cannot do it properly. So lack of Capital is one of the reason to business fail.
Weak leadership
To run a business an entrepreneur need leadership activists. A leader can check and review all goods. He can conduct a good team. But a weak leader whose have no quality to rub business take ineffective decision that's harmful for any company.
Lossing control of finance
As a business entrepreneur you need to take control of finance. You must be check the cost and selling all details. And beside you need to check the remaining finance. Many company take loan from bank so it should be also minded.
Shortage of marketing
Marketing is one of the best way to reach the customers. An entrepreneur always need to advertise his product and service that's why customers can know about it. But if you do not marketing your product properly customers will be decrease. So it is one of the reason of business fall.
That's my post about this topic. I hope will learn something from my content.
Nice post bro @tanjim01
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Keep up your good work, best regards and good luck !
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Thank you.
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Thanks to appreciate me.
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