What are the specific reasons for business failure?
One. Self-assessment
In particular, many student entrepreneurs tend to show more self-esteem or idealization due to having a good starting point, but becoming an entrepreneur is like starting from scratch. The biggest thing to avoid is too much self-esteem. Only by knowing yourself, being fully aware of your strengths and weaknesses, and not letting up will you be able to move forward gradually.
Two. Position is not clear
Many entrepreneurs just blindly follow the trend, do not know what they want to do, they just listen to others say that this project is very interesting, and then start to invest. After a period of confusion, he realizes that he is doing something wrong.
At the same time, the targeting of the product's audience is critical. Imagine if you sell animated figurines to 80 year olds and luxury cosmetics to elementary school students, naturally there will be no consumers. Only by segmenting your products by age, gender, level, etc. can they become more vertically marketed.
Three. Funding without a plan
Funding is everything for startups. Whether or not the company can run smoothly, without employee salaries, the company's marketing plan, and other aspects of the company, funding is essential. So whether it's an investment or another transaction, we have to be transparent and be able to stay and do other things.
As I recall, one of the incidents reported by Yu Xiaodan, the chief executive of Airports, was that the company was in crisis. She also took her boyfriend to Japan and used company money to buy her own luxuries. While we can't verify if this is correct, it would be wrong to not plan or even use the money.
Four. Excessive marketing, self-consumption
It's okay for a company to market, but remember not to over-market, as this can lead to consumer dissatisfaction and even public exposure.
Wang Kaixin once said the Magic Department Store had 600,000 users and more than 1,000 orders a day, and even threatened to make money during the "Ninth Five-Year Plan" period. Yu Jiawen once promised to pay dividends of 100 million to employees, and then there is no ......
Five. Excessive desire for exports
Lei Jun once said, "Starting a business is looking for a way out, and when you reach the exit, pigs will fly."
In a short period of time, this ruling was proclaimed a fortune for entrepreneurs, especially since many startups were vying for a spot, but they didn't calm down or think, does this program really have a chance? Is this really for you?
Just as the ****Hedge Bike is catching on, so is the ****Hedge Economy. What's a ****Hedge, Umbrella ****Hedge, Energy Bank ****Hedge, Maz***Hedge, etc., but who's still alive as time passes
Fighting for ventilation and air change is the dumbest option of all.
A thousand entrepreneurs may fail in four hundred ways, but in the end there are still some common problems. Starting a business is hard, but some people are trying to catch up. That experience has been passed on to you, and I hope it helps.
But whatever your situation, entrepreneur, there will be storms, and your future is in your hands.