Advice to entrepreneurs

After reading a lot of those positive P’s & S’s in many articles, I wanted to mention something on those W’s.Yes! There are some negative W’s that creates a lot of damage for any new entrepreneur. Being an entrepreneur, I too had faced the consequences on the same. Let me speak about those 3 W's –

The 3 W’s are Wrong Product, Wrong location, Wrong Person.

Well, there seem different but the reality is they are coordinated to each other. Even, if one is better & the other is worse you get the damage. Let us say, you have designed a good product, but there is no market for buying the same in the particular geographical location or else if both are fine then the marketing person marketing same is not confident enough to explain about the product.

Another instance where start-ups fail, can be that the organization might be having excellent sales persons but the product is not better & when tough to achieve sales. The market might be choosier on having the perfect product with no damage.

I say that the 3 W’s should be converted into 3 P’s i.e. Perfect Product, Perfect Location & the Perfect salesperson for the job. These three things are essential for any new entrepreneur to get successful. Talk to us to know more.

Tips for entrepreneurs

After reading a lot of those positive P’s & S’s in several books, I wanted to say something on those W’s.Yes! There are some negative W’s that creates a lot of damage for any new entrepreneur. Being an entrepreneur, I too had faced the consequences on the same. Let me tell you about those 3 W's –

The 3 W’s are Wrong Product, Wrong location, Wrong Person.

Well, there seem variant but the reality is they are interconnected to each other. Even, if one is better & the other is worse you face the damage. Let us say, you have designed a good product, but there is no market for buying the same in the particular geographical location or else if both are fine then the sales person marketing same is not confident enough to explain about the product.

Another instance where start-ups fail, can be that the organization might be having excellent sales team but the product is not better & when tough to achieve sales. The market might be choosier on having the perfect product with no flaws.

I say that the 3 W’s should be converted into 3 P’s i.e. Perfect Product, Perfect Location & the Perfect salesperson for the job. These three things are important for any new entrepreneur to get successful. Talk to us to know more.

Why startups fail? Tips for entrepreneurs.

Having read a lot of those positive P’s & S’s in several articles & books, I wanted to mention something on those W’s.Yes! There are some negative W’s that creates a lot of damage for any start-up business. Being an entrepreneur, I too had faced the consequences on the same. Let me tell you about those 3 W's –

The 3 W’s are Wrong Product, Wrong location, Wrong Person.

Well, there are seem different but the fact is they are interconnected to each other. Even if one is better & the other is worse you get the damage. Let us say, you have designed a good product but the market for buying the same is not there in the particular geographical location or else even if both are fine then the sales person promoting same is not confident enough to explain about the product.

Another instance where start-ups fail, can be that the organization might be having excellent sales persons but the product is not fine & when location is good then it’s getting tough to achieve sales. The market might be choosier on having the perfect product with no flaws.

I say that the 3 W’s should be converted into 3 P’s i.e. Perfect Product, Perfect Location & the Perfect salesperson for the job. These three things are important for any start-up business to get successful. Talk to us to know more.

Why do startups fail? Do we need advice for starting a business?

Most of the times, I was often asked the same question & then I take time to answer the question after discussing what really happened or what went wrong that cause a good business to run into losses. Well! Surprisingly we unlocked some key reasons here.

The very common mistake noted by me was that several entrepreneurs starting a business had no idea where they were going or what they goal was? In simple words, there was no proper business plan.

Another pt noticed was most of the entrepreneurs had nil knowledge on the business selected by them. One needs to start a business after doing some market research or doing self learning on the product or service.

Most important of all, none of those startups were hiring a mentor or an advisor who would have suggested which business idea was suited the most. You may ask here - Do we need advice for starting a business? The answer is surely YES.

Also seen was most of them want to play safe, take less risk, invest less money in promotional activities or even willing to take lot of FREE Advices from a lot of consultants. Let me tell you these free advices will always give a negative impact on the business since one does not pay a serious attention when it’s Free.

Tips for entrepreneurs will be to hire a marketing consultant /Mentor/advisor at the time of a start-up who can guide you properly so that there is room for minor errors that can be corrected later by them.