Business Startup

5 Factors That Will Affect Achievement of Your Business Goals

5 Factors That Will Affect Achievement of Your Business Goals

Are you thinking that if you set higher business goals and commit to them, you will for sure achieve them? Sometimes you can succeed, but many times you will fail.

Simply, I do not believe in only high-level business goals and commitment. Commitment to achieving goals is an important factor in the success of an entrepreneur. However, I do not think that the goal will be achieved if I set a goal to sell one billion dollars as a small startup business in one year, and I commit to that goal to achieve. It is not possible.

We need to be more realistic. For example, the goal to earn 100,000 $ is more achievable than one billion in the same year.

Reason for Failure – Why Some Entrepreneurs Succeed and Some Not?

reason for failure

There is a variety of analysis and research that show how most persons who tried themselves in entrepreneurship fail, while much smaller part succeeds. It is not easy to be an entrepreneur. The question is what is the real reason for failure?

To start a business it is enough to have an idea and passion to implement that idea into reality. However, to sustain and grow the business, there is a need for much more additional elements that an entrepreneur needs to possess.

Yes, it sounds scary, but it is not something that cannot be acquired through experience. This does not mean that if someone doesn’t have knowledge about marketing shouldn’t try to start a business. But, those persons should be aware that they will need to increase their skills after the first day when they open the door of the company.

In this post, I will present some of my thoughts related to the real reason for failure and why some succeed and some simply fail.

How to Survive in a Tight Economy and Competitive Market?

How to Survive in a Tight Economy and Competitive Market

Surviving is the first thing that every business owner is focused on in a tight economy. Competition is always there. Some businesses operate on the market without competition. But, it is impossible that this will be the same in the future. Many businesses operate in a tight economy and competitive market.

The time between operating without competition and when the competition will come now is at the lowest level.

Differentiating, using new strategies, and offering value to the customers will make surviving in a tight economy and competitive markets more possible. Who will survive? Only the best and more valuable from the customer’s perspective will survive.

The Most Important Business Plan Elements in the Planning Process

business plan elements in planning process

In the previous post, I write about seven different meanings of a business plan. It is more about why the business plan is helpful for entrepreneurs. In the future, I plan series of posts about business planning that will have more details about preparing and writing as a part of your planning process. Now we will start with most crucial business plan elements.

In this post, I want to select the most critical business plan elements that will give you more proactive role as an entrepreneur or a person who plans to start a new company.

The Concept of Business Potential Energy Methodology

business potential energy & business plan

In the previous post I give you some introductions on the subject of business potential energy. Now you know that every business have or might have their own potential energy. Some businesses have higher level, why some smaller.

This is the only reason why some of them are profitable and some find themselves as failing businesses.