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Why most businesses that started off perfect and promising, later dwindle.
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[QUOTE="blessingc, post: 235844, member: 73446"] The worst thing to happen to a promising business is I to dwindle and fall. It shows there was a miscalculation somewhere. There's no smoke without a fire. They never planned well for the future of their business. When planning, you don't plan short term but plan what you want your business to be in years to come. Plan goals you want your business to achieve at specific times. Businesses fail because of poor leadership. Having a good management of your business can hinder it from falling dramatically. If you can't handle your business properly, it will be best to employ a professional, like a manager to help you do that. To coordinate your staffs and build the business with good managing ideas. Keep an eye on the trending values of your customers. Also lack of capital makes it difficult to grow business and may hinder the progress of such a business. It shows that a business might not be able to pay its bills, loan, and other financial commitments. It also bounce back to poor planning. A poor location might make your customer acquisition costs too high. Also, lack of focus can jeopardize a business, when you don't know the in and out of your business, or how it is being run, you can lose a lot. [/QUOTE]
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Why most businesses that started off perfect and promising, later dwindle.
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