There are many ways to kill a business. Lack of strategy, poor execution, and the wrong team could lead any business down a path of failure, but did you know there are two very specific phrases that can kill any business, including yours? Whether you or an employee has said one of these phrases out loud or simply allowed them to enter your thoughts, they can spell impending … [Read more...]
How to Save a Dying Business
The cyclical nature of business suggests that at some point, your business is going to go through a down phase---a recession and oppression that is either due to owner mismanagement or the overall economy. Many know the statistics of business failure, what is less known is the statistics of business survival. Saving a dying business that has gone through a major downturn is … [Read more...]
Failure is ABSOLUTELY an Option
“Failure is NOT an option,” says many an entrepreneur. But that's just a lie; failure is always an option. Every entrepreneur has failed at many things. Everybody fails. In business, and for every entrepreneur, failure has been a critical part of their path to success (whether they remember it or not). Failing gracefully and learning from failure is much more important than … [Read more...]
Will Your Startup Business Fail? [Infographic]
What are the chances of success for your startup business? Did you know that in 2005 just 47% of startups were still in business after five years? Did you know the startup businesses that are more likely to fail are independent restaurants, retail stores, direct sales businesses, and consulting a business services companies? The news isn't all bad for startups though. When … [Read more...]
Venture Capitalists Are Looking for Failures
Did you know failure is one of the biggest indicators of future success in an entrepreneur? According to an article in the April issue of Harvard Business Review, “Failing By Design,” many venture capitalists won’t invest in a new enterprise if the founder has never undergone failure. In other words, they are looking for… failures! Why?? Let me first state that there … [Read more...]