That’s right! Growth can kill your business. As a self-employed business owner, entrepreneur or solo professional most of you are compelled to seek small growth business.
What happens is what I call a Positive Feedback Cycle. It works like this: we are really doing a great job for a customer, they make known to other consumers about their satisfaction with doing business with us. Once I found the momentum, your business can grow faster, of course with more effort.
This company had it all except their marketing Jed Fernandez plan was flawed. It cost them $14.00 to make and deliver the product. They knew to recoup their costs and to have the correct profit margin that they would need to need to have a wholesale price to retailers of $24.00.
The endless inverse relationship between buyers and seller. But this does not matter to the informed buyer/seller. Meaning that if the seller/buyer did their homework and came up with the right market value price for a business then there is no further problems or questions. The considering party now know what the next step would have to be. That is where or not to accept the offer. My recommendation is to be true to the market and not waste irreversible time.
4/ Stressful – If your business is causing you no end of stress then this is usually symptomatic of a flawed business model. Typically this is because we tend to create a business that relies solely on us doing everything, making all the decisions, bringing in all of the clients or patients, making bookings etc.
Research and study your target market. If you want your products to sell, you have to make sure that it is what your target market wants. Of course, putting a product for sale with only very few demands of it may make your business not so lucrative. A simple market research could be of great help especially if you are just starting. Competition is already there and getting into the picture without any preparations can be disastrous to your business.
First of all, they chose the wrong partners to build their business. They chose a wrong company to partner with, they chose a wrong team to work with, and last of all, they chose the wrong mentors and leaders too.
So there you go, 5 Top reasons why people fail in the home based business industry. Next, apply what you have learned to ensure that you can achieve success too!