Monthly Archives: September 2012

The Chief Cause of Business Failure & Success

Business rises and falls on leadership. According to business guru, Brian Tracy, “Leadership is the most important single factor in determining business success or failure in our competitive, turbulent, fast-moving economy.” Still not convinced? Based on a study by Jessie Hagen of the US Bank, here are the main reasons why businesses fail someone who sees the birth certificates, successions, and autopsy reports of thousands of business entities. It just makes good business sense. But many people will ignore this advice and eventually meet with business disaster.  I highly recommend reading Jay Conrad Levinson’s book, Guerrilla Marketing, which has oodles of useful information and tips on promoting for small business.

Proper application of these key factors is a function of good leadership. Let’s look at some of the conclusions of the US Bank report. According to Hagen’s study, in the Business Planning category,  of businesses fail due to lack of a well-developed business plan. It boggles my mind that so many people go into business without a plan, as if it were the ice cream flavor-of-the-month! Is it any wonder that when I came across the DEA Police & Government auction site of confiscated property, there is a gleeful statement that declares, “Most businesses fail within their first two years, so chances are, you will come across some relatively new merchandise. At auction, get what you need without paying full price.”

If you just rolled out of bed with ‘a great business idea’ and don’t want to be a part of this grim statistic, run to your nearest bank, get a free business plan template, and write your plan now! Honor the time-proven cliché, “If you fail to plan, you plan to fail.” Leadership is about planning for success before it happens. Sun Tzu, the 6th century Chinese philosopher, in his epic work The Art of War, gave some sound business advice that still applies today: When your strategy is deep and far-reaching, then what you gain by your calculations is much, so you can win before you even fight. When your strategic thinking is shallow and near-sighted, then what you gain by your calculations is little, so you lose before you do battle.

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In the Financial Planning category, a whopping 82% of businesses failed due to poor cash flow management skills followed closely by starting out with too little money. Business leadership is about taking financial responsibility, conducting sound financial planning and research, and understanding the unique financial dynamics of one’s business. Before even starting a business, show your plan to your accountant and get their counsel. What a concept! Asking for the advice of someone who sees the bottom-line realities of business day in and day out;  Word of caution: don’t rely on just one opinion. Get at least two or three opinions from different accountants to get a more informed view.

The third business failure factor profiled in the report, and a critical one, was Marketing. Over 64% of the businesses surveyed in the Marketing category failed because of owners minimizing the importance of properly promoting their business followed by ignoring their competition. Again, as a business leader, you must be able to effectively communicate your idea to the right people and understand their unique needs and wants. Leadership is all about taking initiative, taking action, getting things done, and making decisions. If you’re not doing anything of significance to market and promote your business, you are most likely headed for business failure.

Know your competition. Leadership is also about providing value to people. If your main competitors are all providing a better quality and lower priced product than yours, how can you possibly create any value? Either you harness your strengths to provide different benefits such as speed, convenience, better service; lower your price and improve quality; create a different product for an unmet demand; or get out of the game. Finally, one of the most important reasons why businesses fail is due to poor management. In the Management category, 70% of businesses failed due to owners not recognizing what they don’t do well and not seeking help, followed by insufficient relevant business experience.

Las Vegas dispensaries: Oasis Medical Cannabis to get your medical marijuana from.

Oasis Medical Cannabis was started in December 2015 with over 25 strains to choose from. Collecting rare marijuana strains from around the world, they were able to grow many new strains in their highly equipped labs, and were able to generate many new products for the patients. With the help of biotechnological methods like crossbreeding of different strains of plants, they have developed medical marijuana strains that give you the perfect marijuana plant with medicinal benefits medical marijuana las vegas.   For 15 years, they have been collecting marijuana plants from all over the world.

They study each and every patient and then only designed the products based on the requirements and needs.  They have started recently and have contributed to a great extent so far.  They undertake all possible classes which can help the patient recover faster in a more natural manner, rather than undertaking any other allopathic drugs, which could in turn, caused adverse effects.

Legal protection against state prosecution for possession, production or delivery of marijuana was achieved when you have a medical marijuana card. But beware to your territories you are travelling with this marijuana because if you are caught with marijuana in another state which is not legalized its usage yet, you could be prosecuted on drug charges.  Not only that the patient will receive this medical marijuana in local dispensaries but they have great choices to choose from; as there are wide number of cannabis options. There are many disorders which are known to be cured with the help of this medical marijuana.

They love to get feedback from their beloved customers and hence Oasis Medical Cannabis will keep working on providing the best experience possible so that they keep providing you with something new and interesting.