About a week ago I posted ‘2 Main Reasons Why People Fail at Starting a Business‘ which was based off of a James Altucher podcast. I covered the 1st reason why businesses fail, and stated I would cover the second reason the next day.
Well here we are a week later. To be successful in bogging or just about anything, one has to be consistent. Which I clearly am not yet.
So finally, to go into greater detail on why businesses fail:
*They remove themselves from the day to day operations.
When the owner removes themselves from the day to day operations, they cease to know their business. It may take a while to really understand the operations of the business. If you suddenly hire someone else to run your business, you will have an additional cost and the employee will not care to the same degree that you as the owner will.
There may come a time where you can remove yourself from the day to day operations from the store, but in order to do that you have to know the business very well, write an operations manual, an employee code of conduct, learn how to hire someone you can trust, meet with the person and how to work with them going forward. All of the above things and more come from a more matured business much later down the road.
Again, I highly recommend reading the following book for anyone who wants to start a business:
[amazon asin=1118178440&template=iframe image]
The author of The Reluctant Entrepreneur was interviewed recently by Mike Dillard in episode 2 of the Self Made Man. Listen to the interview here:
Its a great interview and a great book and will help clear the fog so you can move forward. Take care!by