A True Reason of Business Failure

Business Failure

Sometimes a stage comes in the business journey when a businessman becomes so over confident that he totally abandons the use of his ears and make use of his tongue only.

This means that he does not listen to anybody’s advice or feedback of his customers nor he cares for his employees suggestions.

He becomes a sort of dictator in business and only gives orders.

Whereas we are bestowed upon with two ears and just one tongue, so the use of ears should be more than the tongue. This happens especially when an entrepreneur achieves sudden success in his business venture. He starts earning lots of money and fame.

The sooner you accept the fact that you will have both successes and failures, the easier it will be to get your business and personal life headed in the right direction. ~Harvey Mackay

Then he thinks that since he has achieved all this due to his hard work and intelligence so now it is the duty of other people around him to just listen what he says.

He closes his ears and eyes to further advancement and development and just wants to cling with his own ideas. He does not want to add anything new in his business.

I’ve had many failures in terms of technological… business… and even research failures. I really believe that entrepreneurship is about being able to face failure, manage failure and succeed after failing. ~Kiran Mazumdar-Shaw

So gradually, the graph of his business success starts going down because everyone around him becomes useless for him. This arrogant and stubborn attitude results in the failure of his booming business.

Therefore, the lesson learnt is that whenever you attain success in your business venture then be ready to add something to it. Listen to your employees, customers, friends and family members. Make note of their observations and then make proper changes accordingly.

One great cause of failure of young men in business is the lack of concentration. ~Andrew Carnegie

This is just one of the reasons of business failure, of course there are number of other factors those contribute to the disaster. You can read BUSINESS FAILURE QUOTES and learn from the wisdom of senior businessmen of their time.

Success or failure in business is caused more by the mental attitude even than by mental capacities. ~Walter Scott
Failure or success in business is primarily not determined by mental capacity but by MENTAL ATTITUDES. ~Walter Dill Scott