Reasons why businesses crash

 The worst moment in a man’s life is losing all he has worked for in a twinkle of an eye. The reason is traceable to lack of information of the language of the market or the understanding of the business, the application of uncalculated risks both in the small scale and large scale businesses.

  Why small scale businesses crash

Most people that enter into this type of business begin with a wrong mentality(negative mind-set)  of I am tired of staying at home, then the only thing that comes to their mind is to start a business as a sole proprietorship or self-employed. Some are people who lost their job or those who retired from their work. Bringing your frustration into the market won’t make you succeed but the understanding of the language of the market will. Being tired of staying at home is not a ticket for business; business is not a dumping ground for mediocre. Check our article” things to consider before opening a business”. Reasons why small scale businesses crash

No good understanding of the product or services they are rendering: understanding simply means the truth you stand under, if you do not stand under any truth you easily be blown away that’s the ultimate reason the self-employed are in-consistence. They keep changing from one business to another then back up their ignorance with religion accompanied with hopeless hopes. The problem is not the business, the problem is you. Stop occupying people be original, be creative. the best business is actually the one you enjoy doing. It begins with the discovery of self because it takes one who has discovered himself to recover. Understanding of your product and services builds your confident .in our last article we wrote that confidence is built through study and application. Read books of people doing what you want to do, learn from their success and failure and make a decision to be sound. 

Money chasing: to attract money, you have to forget about money because money is attracted to people who fill needs and add value to mankind. The amount of money you have is the reflection of the amount of value you have given to others. There is nothing as frustrating as to a desperate desire for money especially when the growth of the business is slow. if you want a successful business, please give it time, Stop thinking about business in terms of selfish desire, whether its money, dreams or by doing what you love. Expect part 2 of this in our next article. Thanks for your time.