cmoneyspinner wrote:IMHO, it's usually poor management, especially financial management.
Indeed they are several factors with a combination of many of them working together either to collapse or take the business to the next level.Decentlady wrote:Several factors may contribute to a successful business, along with good idea and good management, sustainable source of finances is also a critical factor in order for a start-up to be a long term business. Foreseeing possible obstacles and preplanning their plausible managements also help in running a business smoothly. There should always be a plan B ready in case, things don't go the way initially planned.
True, either of the above can be a reason.arunima wrote:It can be either of the two and in some cases a combination of two together..Idea is a must for any business and it's the core of any business. Some businessman can make a very simple idea turn into a very profitable business with their planning and execution..while we have other cases where despite having a good profitable idea, businesses fail due to improper planning and execution.
Management looks to be key to business success. But also a bad idea can take you down to the drain.eldavis wrote:Majority of the startups out there today tend to fail due to poor management.
I think I need to watch that movie and see how start ups do it.cmoneyspinner wrote:Start-Up
That is why companies change slogans and products to better ones. A weak idea like yh said can be made strong if the leaders are committed and determined.germainebull wrote:In my experience, a weak idea can easily be forgotten. But the biggest problem is often leadership and commitment. The person who should be the CEO, among others. Lack of planning, lack of direction, and rushing into everything at once are the poison. The beginning is always difficult, but it is the key to success.
germainebull wrote: The beginning is always difficult, but it is the key to success.
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