In today's economic situation, where labor demand required by the company are not comparable with the supply of labor in the job market, becoming an enterpreneur is something recommended. Unfortunately, many entrepreneurs who have failed in this way. Self-care of business does require extra seriousness and persistence. When we work in the company, then we can expect a regular income. Not so with becoming an independent businessman. Many factors affect the income of a businessman or entrepreneur's self.
In fact, many enterpreneurs stopped midway due to bankruptcy. It is caused by various factors. There are internal factors and external factors. Sometimes it's hard to distinguish which ones are internal factors and which one are the external factors. Indeed, as entrepreneurs we are required to steel-minded and not easily give up. What are the cause of bankruptcy? Actually there are many kinds, but here we review some of them as insight for us to anticipate.
Half Heartened Starting Business
If you start a business with half a heart, then you will fail. In the example of online marketing for example, only 0.5 percent of businesses that could be called a success. One and a half percent survive to five years and three per cent last a year and a half. The rest failed miserably. Mental capital required to start a business in addition to capital.
Miserable Loan Management
The most recommended way to start self-employment is to use their own capital. The second best is ask for a loan to friends and family. Manage your debt well so you can pay it off. If you start to loan to the bank or ask for government assistance to small businesses, of course you are expected to have implemented this way first and earn the trust of your friends and family.
Establish Trustworthy Relationship With Partner
You must have a trustworthy attitude. To be trusted by your business partners, you must have the personality to be trusted. A healthy relationship is needed in the business. Both parties should not be detrimental to the other party. With trustworthy attitude, partner will feel comfortable doing business with you. Do not even believe in an easy and instant money making business offered on the internet. Nothing is easy, but neither is difficult if we want to improve ourselves and learn the right way.
Rush Pursuing Opportunity
Saying that, a golden opportunity did not come for the second time. When we see a business opportunity, often we do not think about other factors in the business. We tend to strike them quickly, whereas for the necessary infrastructure and stakeholders eg already available previously. Have you to think about it carefully? Your business does not last a day or two, because it think a prior act.
Pay Attention To the Market Demand
Although the market is saturated, the actual market opportunities still exist. We must be observant to customer needs. In addition, keep in mind also that the market actually can we build. It takes time and patience to establish a market. If you have a community, then you already have a potential market that you can develop yourself.
Perform Planned Marketing
Goods or services that you offer will not be known if being you do not do marketing efforts earnest and well-planned. As a novice entrepreneur, you can tell your business to friends and family. It is a good marketing strategy. In addition, many social media options outside can you use for this purpose.
Thinking Turnover Excessively
It is so much fun when we have a high turnover. But you should remember that it is not simply be achieved. No need to think too much about turnover. The important thing is we still get in profit. Although we are still have a small profit, we should not be easy to get discouraged. Keep doing business. With the passage of time, the skills and instincts we will get even better. The opportunity being wider. And it will affect our business income.
As already noted above, carries on business as an entrepreneur does require its own tenacity. The most important thing to know is that the knowledge is not magic or witchcraft. Everyone can do it. God has created the reason for us to meet our needs and family ourselves.
photograph by Emile Seno Aji