By Rabison Shumba
It is fashionable to start a business and run one. When friends gather around, questions that come out are usually in the line of "So, where are you working these day?". Usually those who are employed end up envying those who seem to have a level independence through self employment. The business owners have a feeling that they contribute towards their own welfare and that of the nation through employing others to accomplish tasks. Some individuals get into business through inheritance of the parents' legacy. Others enter into business for the fun of it. A substantial number however feel the pressure to start out just because of what the rest of the peers are doing. Whatever the reason that one gets into business, many run their businesses down by the decisions and actions they put in place during the time they are running them. Many would rather force it through and ensure the business remains running even if it seems to be a wrong business venture. Many do so without realizing the fact that they are not well placed. Let me help you identify when you are in the wrong business.
1. You have absolutely no knowledge of the industry - Success or failure in business is because of lack of the relevant information on of the industry and its trends. If you are in the clothing industry for example, you would know fashion trends, dressing techniques, types of materials and the uses etc. I have seen many taking up all kinds of businesses all because the neighbour is in that business. Take time to know if there are any regulatory bodies set up in line with you business.
2. You have no passion and interest in what you are promoting - Your become fruitful and fulfilled when you operate in your own area of expertise and passion. When you lack passion and purpose then there are chances that the moment you face a challenge you will quit that business line.
3. People can easily live without your services - If you pick a business area where people can live without your services then you are likely going to have a fair share of discouragement. Always provide services that people think are pivotal for everyday use. Luxuries are secondary to food, clothing, family security and health products.
4. There is a lot of striving, no natural inclination - What you fail to flow in naturally will not succeed generally. Many people are in businesses that make them miserable as if they had no other choices when they started. They run the businesses while carrying the victim mentality. It is almost as if someone else if to blame for the striving and lack of productivity. Otherwise will find creative ways to justify the perpetual striving.
5. Your business focus is not clear even to you - When you as the business owner are not clear about what your business is about then you may be in the wrong area. You should be able to tell others what your business line is without scratching your head. People in the business must say it in their sleep. That is how clear your business focus should be.
6. You cant seem to get into the market - resistance - When you find out that you seem not to be able to break into the market, check closely that your business area is not over subscribed. Many enter into businesses just because it seems fashionable without proper due diligence. You will guarantee your own frustration that way.
7. Your business has never experienced profit for years - You are not in business for the fun of it. Every business exists to bring value to its owner and to the consumer. If you never experience profit for may years. It could be a sign that you are barking the wrong tree altogether unless yours is a charitable case. Surplus is what justifies increased efforts in the business.
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