Post
Topic
Board Economics
Re: Business failure among small-scale entrepreneurs
by
Fatunad
on 20/12/2023, 17:59:25 UTC
These are all good points in the OP and coupable also makes a very valid point:

Some new business lack the sales of goods or product and nothing kills a new business than not meeting its sales goals. Lack of proper investment in a business kills the business also, some people lack the idea of investing more on their business,
a business's success heavily relies on its sales performance. New businesses often struggle with generating sales, which can be detrimental to their survival. In addition to sales, proper investment is equally crucial for a business to thrive. Many entrepreneurs underestimate the importance of investing in their business, which can hinder growth and sustainability. Prioritizing sales strategies and allocating sufficient resources to enhance product/service offerings are vital steps for ensuring a new business's success. It's essential to understand the significance of both sales and investment in building a thriving and profitable business.

It takes meticulous planning and dedicated execution to be able to make a business succeed. The economic environment also plays a role in the initial acceptance from the target market. If it's not a good time to by anything, it's hard for a new product be tried without any kind of backing or review, people and businesses take less risks.

I am yet to find a forum or a place where people can discuss what takes successful business execution. I think the major problem here is that there isn't an active forum that cultivated a community quick enough. Someone should compile resources into a thread in this board.

For those who are just totally noob or new into this venture on trying out to make some business then they would really be sharing up with the same perceptions and beliefs that they do have in mind which is actually not that right or simply being wrong.