ITS February 1 already— a clear signal that 2021 too will cruise way faster than the TAZARA express train travelling from Kapiri to Nakonde. This means that we only have 11 months to go before the year ends. So, you have only 11 months to achieve all your goals and aspirations for 2021.
For as long as you remain our business mentee, you have to achieve those goals you set for yourself— come rain or sunshine. Kaili ife you know we don’t like hanging with failures. Vikopo na ife sitiyendelana!
Although we are aware that you have a lot of goals, there is one goal which we really want you to achieve— no matter what. And that goal involves the success of your business. Your goal and our goal is to make sure that your business becomes a success this year.
Therefore, we will for the next few days share with you the 10 reasons that might cause your business to fail. We will also provide the possible solutions— just to make sure that you get through those tribulations alive and kicking!
But before we can start talking about those 10 reasons, here is something we thought you need to know about business.
You see, no matter how passionate you are about an idea or a particular type of business you must research about the business to ascertain if such type of business will be profitable in your chosen location.
As it is, there is no business that is not profitable, but if your business is not located at a place that the product/service is required, it will not fly or be profitable.
Passion is a key for success in business but it cannot guarantee profitability. If you are passionate about something but cannot monetize it, and yet you venture into it, then you are more of a charity organization that provides a service for no or minimal reward.
Passion is a key factor in business but it does not always guarantee success.
It is pertinent that you do a thorough market research, consult before you venture into any business. Nobody wants a failed business. The pride of every entrepreneur is to see his/her business growing and making steady profit.
Some entrepreneurs have started businesses but because of some certain factors, the business becomes a failure after a short while.
We will be discussing some underlying causes of business failure beginning from tomorrow morning through to somewhere around Wednesday.
Do have a great day!