Why Businesses Fail

To be able to start a business from thin air is quite a hard thing to do. Some can, some cannot. There are a lot variables when it comes to a business succeeding or failing. Below, you will find a list containing the reasons as to why some small businesses fail and what you, the business owner can do to prevent the situations from becoming a problem in the first place.

No Leadership, Employees Get Lazy and Sometimes Insubordinate
As a manager, you should never “manage,” unless it comes to a dire situation. Power trips for unintelligent, insecure managers and business owners. Instead, you should be friendly, listen to the ideas the employees have as well as consider them the front line soldiers who know what is going on in the market.

However, some newer, younger employees may see this type lax of attitude and attempt to leverage it in an attempt to firmly establish a “do what I want whenever I want” mentality and atmosphere throughout your company. This can spread like wildfire and it can get out of control very quickly. Upon the first sign that the employees are slacking and not taking their jobs seriously, the manager or business owner must remind them as to why they are paying them the amount that they are being compensated and reiterate as to what kind of productivity and execution is expected.

Good managers and /or business owners lead by example and create a business atmosphere that screams “hard work” and “company dedication.” You must create a “produce or don’t work here atmosphere” within the organization or your business is being left often to failure.

Not Paying the Employees Enough
To obtain the best employees, one must pay. Your employees are going to be representing your company every time a potential client calls or very time somebody visits the office. These individuals are going to be the face of your creation. Regardless of how impressive you may be, if your employees are not sharp and don’t give off an energetic vibe, clients are going to begin shying away and will not take you nor your company seriously.

Additionally, if you are not ready to pay an employee or employees a salary that is very industry competitive, you must do the extra work and continue to put in the 16hour days until you can provide a salary that is conducive to acquiring top notch talent.

Don’t misunderstand. This does not mean that you have to save $200,000 for the person, but look at various job boards. What are your competitors paying to bring in new employees? Do you think that they are getting impressive or lackluster talent offering the compensation packages that they are? Always aim higher.

If they are paying them $70,000 a year, budget $85,000. You always want to get employees who are better than the workers whom your opposing firm currently has.

Business owners with big egos don’t bring in high returns. Don’t just have an employee simply to say you have one. There is no sense in doing this. I know people who have done this and it gets them absolutely nowhere.

Lastly, free employees can quickly bring down a corporate empire. They can bring down the corporate empire that you a very long time to create and bring to life. I’ve always felt that simply having the thought of obtaining free employees is a little off. Why should somebody work for you for free? Would you work for somebody else for free?

I can see justification that they would do so if you were sharing half of the company revenues with them a.k.a. making them a partner. Otherwise, those employees are going to leave and, upon them going to competitors, they may badmouth you. Therefore a result of you even attempting to obtain free labor, will give your competition free and very useful competitive intelligence on your company. Their obtainment of this information could come from a job posting or your former “gratis” employees potentially bad-mouthing you.

Why Facebook and LinkedIn Are Good For Your Business

Have you been hearing all of the buzz about social networking? Feeling confused? Don’t worry, you’re not alone. The great news is that it isn’t as complicated or time consuming as it may seem. Plus, it’s more than just social; it’s good for your business to get involved.

The list of social networking sites is long and growing. I don’t want to overwhelm you so I’m only going to focus on two that are particularly suited for you as a business owner, Facebook.com and LinkedIn.com.

So why should you care? What’s the big deal? Well, here are just a few reasons to enter the social networking realm:

* Gain exposure for your business that may lead to new clients or projects

* Increase the credibility of your business (give and receive recommendations on LinkedIn, post messages on friend’s pages on Facebook)

* Be connected to the people in your network in one location (OK, two if you’re on both Facebook and LinkedIn)

* Re-connect with business contacts you’ve lost touch with (sometimes they find you, sometime you discover them)

* Meet new people and expand your business network (meet your friend’s friends that you otherwise wouldn’t meet)

Here’s a quick overview of them (both are gratis and LinkedIn offers paid upgrade options).

Facebook:

– Informal and more social than business focused (this doesn’t mean it’s not good for your business)

– Almost 100 million members (according to Wikipedia)

– Anyone can ask you to be ‘friends’ (you don’t have to accept) and you can ask anyone to be friends (they don’t have to accept either)

– It is possible to share photos, videos, and add applications

– You can join groups within the network that interest you (or make your own group)

LinkedIn:

– Business focused

– 19 million members (according to Wikipedia)

– You can only invite people you know (people whose e-mail addresses you have) and vice versa.

– It is not possible to share photos and video (only your own profile photo)

– You can join groups within the network that interest you

To get started you just have to go to the website, sign up and follow the directions to create a profile. Because LinkedIn is mainly for business it is professional and the profile area is quite structured which makes it easy to follow.

Facebook is another story, although it does have a structured profile area, there are loads of additional features you can add to your page. When you join for business reasons be careful not to make your page too busy or too personal. You can be yourself and share your interests, just don’t reveal anything you wouldn’t feel comfortable sharing with a group at an in-person networking meeting.

When your profiles are finished you can start asking people to connect. The process is different for LinkedIn and Facebook but both are pretty straightforward. LinkedIn has a ‘Help/FAQ’ section on the website and Facebook has a ‘Help’ area as well (bottom right hand corner of the page).

You will learn more as you go, so just go ahead and get started. And as you meet new people you can ask them to join you on your networks. Networking, off-line or on-line, is about building relationships over time. So give first when possible, be yourself, and have fun with it.

The benefits of social networking for business owners are clear. You will be able to meet new people, build relationships with your network, improve visibility for your company, and discover new opportunities for more business. But that’s not all, it’s fun too. So why not get started and join the world of social networking today.

© Stephanie Ward, 2008

Network Marketing Tip For You, the Business Opportunity Seeker

Network marketing, which ever the business opportunity is a quickly growing industry that each of us has participated in at one time or another; we all bought some item on the Web and thousands of us did a bit of selling too, at the time, the must-have business opportunity.

Keep in mind, from doing an infrequent buying and selling on the Internet to actually buying part of a networked marketing concern is a big move.

Network Marketing Tip: Smart Enough To Uncover It?

Economic independence is the hope of millions of people; to achieve it thousands of us will go to great lengths. When investing in a network selling outfit there are some factors you should keep in mind prior to signing a contract.

Start by doing as much investigation as possible on the company’s business opportunity and its requisite on the market; before you sell any item ask yourself ‘would you buy this item?’ In the event that the response is affirmative then you have a fair possibility of success. That is a great network marketing tip since people who market goods they personally would buy show their excitement and knowledge about the item and the product is nearly sold out already.

Ensure the organization has strong support after the item is sold; this important network marketing tip will help you for a long time as your customer, if satisfied will advertise you gratis to more people also and even if the item was not great they will definitely mention the excellent follow up and servicing. an additional network marketing tip is the compensation in case the product is not up to the needs of the customer.

The Most Vital Network Marketing Tip For Your Business Opportunity – If You Can Find It.

The most important network marketing tip to keep yourself updated and informed about the product you are selling at all times; if you market something that is old news on the market at an excessive cost, you will be old news quickly, as well.

Working for yourself, which ever the business opportunity ultimately decided upon is the most difficult work there is; you are the boss and you must press yourself as well as help yourself and celebrate occasionally but, before you leap to celebration ensure your profitability and be mindful that it is a difficult environment in the market which will not allow the slightest error.

Treat your job with seriousness and you are bound to succeed; it will be tough at the start, that is certain however, with the right beliefs and hard work there is only one path to go – and that path is into success.