Intellectual Business Community

Business failure , or colloquially  going out of business , refers to a company ceasing its operations following its inability to make a  profit  or to bring in enough revenue to cover its expenses. The final step is always that the business runs out of cash. It has been said that running out of cash defines business failure. CAUSE OF BUSINESS FAILURE   Both Managerial deficiencies and Personal characteristics can lead to business failure.   Below are some person characteristics and managerial deficiencies that lead to failure.  A. PERSONAL CHARACTERISTICS 1. Exaggerated opinion of businesses competence based upon knowledge of some skills. 2. Limited formal education entrepreneurship Ed.). 3. Inflexible to change and not innovative. 4. Uses own personal taste and opinion as a standard to follow. 5. Decision based on intuition, emotion and non objective factors. 6. past not future oriented 7. Little reading in l

1. Look good, feel great. • Be a sharp dresser • Stay in shape 2. Let your body language show confidence. • Stand up straight • Be relaxed and open • Walk quickly • Hold your head up • Make eye contact • Smile and the world smiles with you 3. Use positive self-talk throughout your day. • Make use of affirmations • Keep your inner dialogue positive 4. Set SMART Goals. • Specific • Measurable • Attainable • Realistic • Timely 5. Maintain positive relationships. • Give compliments • Receive compliments graciously • Follow the Golden Rule • Be honest • Show kindness and love • Sandwich constructive criticism in between good points • Look for the best in others and bring it out • Admit your mistakes and apologize when you’re wrong • Eliminate gossip 6. Look within yourself. • Strengthen your strengths • Determine your passions and pursue them • Write a “me” speech • Improve your weaknesses 7. Do things you