It is true that every sad family may be sad in its own way, as Tolstoy famously said in Anna Karenina, businesses only fail for one of four reasons.
It is the contention of the author and business management expert Mark Stevens. So what are these four fatal mistakes that could doom your business? Stevens Here is the list:
1. (Lack of) leadership. The Administration has lost command and control. The company is a group of people working under the same roof, but rarely, if ever, rowing in the same boat. I have seen many transitions in management, too. If there is no clear message from the top of this will happen and what the change, employees are assigned full time to turn the rumors, instead of doing real work.
2. Complacency. When business is good, managers are led to believe that the company is a success. Moral: Never coast. This reminds me of how Blockbuster Inc. sees no need to change their business model until much later and was left for Netflix.
3. The belief in conventional wisdom. Examples of how the tank volume can your company is trying to manage by consensus (impossible, "said Stevens) or reward people based on seniority rather than performance (simply untrue, according to Stevens ).
4. "Lust LAX syndrome." This happens when a business focuses all its resources on dismantling desirable, desired, after new customers, but then followed with mediocre service when customers have signed up. Customers are less enthusiastic, and soon leave. I believe that all the major telecommunications companies fall into this boat. They did not put a big marketing push and showy to offer incentives to move their service? Then you realize that you can not get any phone reception - or any phone fixes the problem.
These are all certainly reasons many companies fail, but I added the fifth common cause: market research before opening the way for new initiatives or activities. In essence, the company ends up in the wrong place to start looking to sell products to customers in the wrong place at the wrong price or wrong wrong.
I saw so many companies fall into this hole - opening a shop where there is not enough pedestrian traffic, or storage of a product is not suited to the market. You can be a great manager of people, but if you have not studied your market and saw a need that you can solve, the company is in trouble from the beginning.
It is the contention of the author and business management expert Mark Stevens. So what are these four fatal mistakes that could doom your business? Stevens Here is the list:
1. (Lack of) leadership. The Administration has lost command and control. The company is a group of people working under the same roof, but rarely, if ever, rowing in the same boat. I have seen many transitions in management, too. If there is no clear message from the top of this will happen and what the change, employees are assigned full time to turn the rumors, instead of doing real work.
2. Complacency. When business is good, managers are led to believe that the company is a success. Moral: Never coast. This reminds me of how Blockbuster Inc. sees no need to change their business model until much later and was left for Netflix.
3. The belief in conventional wisdom. Examples of how the tank volume can your company is trying to manage by consensus (impossible, "said Stevens) or reward people based on seniority rather than performance (simply untrue, according to Stevens ).
4. "Lust LAX syndrome." This happens when a business focuses all its resources on dismantling desirable, desired, after new customers, but then followed with mediocre service when customers have signed up. Customers are less enthusiastic, and soon leave. I believe that all the major telecommunications companies fall into this boat. They did not put a big marketing push and showy to offer incentives to move their service? Then you realize that you can not get any phone reception - or any phone fixes the problem.
These are all certainly reasons many companies fail, but I added the fifth common cause: market research before opening the way for new initiatives or activities. In essence, the company ends up in the wrong place to start looking to sell products to customers in the wrong place at the wrong price or wrong wrong.
I saw so many companies fall into this hole - opening a shop where there is not enough pedestrian traffic, or storage of a product is not suited to the market. You can be a great manager of people, but if you have not studied your market and saw a need that you can solve, the company is in trouble from the beginning.
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1 comments:
I think some small business owners to get "too big for his own underwear. I totally agree on the storage of things that do not sell what is means to attack a market that you thought you could" do "rather than spend glued to what brought you to the first floor. I saw the tank too small, because many companies in this or are never able to recover fully.
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