Many people have dreams about going into business for themselves and quitting a job that seems to be going nowhere. Take control of their lives, buy things they have always wanted, save money, travel the world and live in financial freedom. Great and laudable dreams…uh…
Yet a lot of people are unable to take the first step into their desired world of business exploits, because of lack of knowledge on what it takes and how to go about running a business successfully. Those who do, end up in frustration, fatigue, debt and failure.
To know how to succeed you need to find out why so many people fail in business.
Study shows that, four out every five businesses will fail within their first five years. And of those remaining, four out of five will also fail within next the four years.
Solomon in the Bible, a man reputed for his wisdom and high level of business and financial success has this to say:
“The labour of the foolish wearieth every one of them, because he knoweth not how to go to the city”. Eccl 10:15
Business skill makes the difference
The reason for frustration and high rate of failures in start-up businesses is the lack of business skill. Most people don’t have, and never built, the most basic business and management skills. They go out in a haste to start their business. If you’re not effectively prepared and equipped for the business world then failure is inevitable.
There is the how to running a successful business. Technical skills in a profession or career are no substitute for business skill. That you’re a good accountant, doctor, and lawyer is no guarantee that you will succeed in business without business skill.
It’s important to know that it’s not as a great technician, but as a great business entrepreneur that you will create your success.
Running a business is a specialized technical skill on its own, which must be learnt like any other skills. It is a skill very few learnt before going into business.
Starting and running your own business could be fun and fulfilling if you know how to go about.
Business skill can be acquired
The good news is that all business skills can be leant. All it will take is your willingness to pay the price of acquiring the needed skills.
Friend, there is no prize without a price!
There are only two things you can invest: time and money. Since most people do not invest much time, they lose their money. It is in spending time learning about money, business, finance and wealth, attending many seminars, listening to many tapes and CDs, reading business book. And also by finding a mentor and becoming an apprentice.
You need to build skills in the art of acquiring, satisfying and keeping customers. You need to know how to build and manage systems that will keep your business running on automatic.
Being in business is not all glitz and glamour. It’s a constant battle to overcome problems and obstacle. Your problem solving skills must be sharpened, because doing business is all about solving problems.
To invest all your money setting up an office-rents, furniture, computers, business cards, and letterheads without given attention to the basic skill that will make it all produce the desired result, will be effort in futility.