Published Jun 04,2020 by Step2StartUp
Big Reasons for Small Business failure in India
How to survive business in this competition era?
- Points to be considered
The Reasons for Small Business Failure -
In India most enterpreneur start thier business without proper planning or business strategy. Starting any business needs perfect planning before launching of any product or services.
Innovation doesn’t mean everything, you can not sale your products automatically and assuming customer will find you and come to you directly, this is completely wrong assumption. You must have good marketing plan to promote your brand. Company sales can boost only if there is good marketing strategy.
Below are the important points every Small businessman has to considered.
Expert team: It is not compulsory that you must have marketing team or PR team at the begining of your business you can start marketing from one to one and if your product or services has quality then it automatically trigger your orgranisation sales.
Product size and budget: Most of new businessman doesn’t care about product size and its budget which may impact on product success.
Market trend: Choose the right product or services which are currently in demand then and then you can grab the market.
Competition: Before launching new product or services, every businessman has to focus on products quality and uniqueness by considering competitors brand, So it helps to increase more sales.
Capital expenditures: While setting up new business most of the businessman spends too much money for specific portion, which may lead lack of cash flow in the business. The area where more money is required in the business that time businessman may run out of cash.