Top ten reasons why business fails

We build our businesses to let them live, run and grow. That’s why business failure is a happening that we always wish and pray to never come out into reality. But how can we avoid it? Even the giant companies fail despite of their gigantic assets and equities. More and more small entities also become unsuccessful. However, this doesn’t mean business success is an impossible dream. We can be successful entrepreneurs. To achieve that, we should learn the reasons why business fails, and do our best to overcome them. Here is the list of the top ten causes why businesses do not succeed:

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Business management for small businesses

When people think of business, they usually think of profit and money. When people think of management, they usually see a person or group of persons wearing nice coats and ties. All of these are like viewpoints seen on a tip of an iceberg which still had unseen deeper notions under it. Being in business should not only mean being in a quest to financial wealth. Likewise, management doesn’t only mean a process which can be handled by people who have finished college or master’s degree in business management or administration.

For big companies, management is well-funded and well-established. But how about those small entities which obviously don’t have huge money to spend to establish a well-placed management structure? The answer is… they don’t actually need big bucks to have a management system that will effectively and efficiently run their small companies. What small entrepreneurs need is a great participation in their small businesses. This rigorous participation means great investment of time, passion and personal qualities (i.e., intelligence, wisdom, emotional strength, ability to influence and lead people, etcetera). Read more

Forty free marketing techniques for small businesses

Marketing fundamentally means not only product promotion. It also involves quality products, reasonable prices and good placement. All of them are directed to the satisfaction of customers, return to the investors and success of business owners and entrepreneurs. With this notion, marketing does not always mean spending money. Small business owners and entrepreneurs should realize that they can do marketing without spending any penny to achieve business and entrepreneurial success. There are tons of zero-cost marketing techniques small businesses may apply. My top forty of those techniques are the following: Read more

Studying the Weapons of Guerilla Marketing

These last few weeks, I have been attracted and fascinated with the marketing world. From the four Ps of marketing, to internet marketing and to viral marketing, the marketing continuum promises an exciting and rewarding experience. Marketing is vital to business and to the art and sciences of entrepreneurship. That’s why it is what usually what we have in mind when we think about attracting more customers and generating more sales and profits.

This time, I have stumbled further in the marketing world and have encountered “guerilla marketing”. So what is guerilla marketing? And what in the world are weapons of mass destruction? I mean weapons of guerilla marketing? Guerilla marketing is an unconventional system of promotions that relies on time, energy and imagination rather than a big marketing budget. Read more

What is your business wish list for the New Year 2009?

What are your business wishes for 2009? For me, the following are my wishes for my business, for businessmen, and the business world in the year of the Ox

1. Reduction of business tax rates which totally burdens all the Philippine consumers – whether these consumers are businessmen or not.

2. I hope businessmen will pay right amount of taxes to the government so that the government can generate higher internal revenue and will have no reason to implement additional unsound taxes. Read more