You wanted to buy a phone but you suddenly become torn between buying a Motorola or perhaps go with Apple brand. But eventually you picked Apple because everyone recommends that to you. If you are one of the makers, it surely be hard for you to compete with other brands. But competition is part of challenges that will make you grow. But whenever you fail those challenges, it might lead you to a troublesome state and need to call a bankruptcy attorney Oakland to help your situation.
More people now are staring to run their own businesses. However, many failed every single day after many months and years. Based on a statistics, 49 percent failed after their first five consecutive years. On the other hand, 30 percent never reached at least two years. It does made you questioned on why it happened.
As mentioned above, the path is quite risky. And for beginners, they might somehow get intimidated to start their own. You might have the perfect ideas to sell in the markets. You might also have the good quality of workers who would help you in achieving your goals. But regardless of that, you also might be missing with some elements which became your downfall later on.
Finding customers are also hard especially when most of them are quite satisfied with what they have. Meaning, they do not necessarily need to make some purchase from your company. Furthermore, you also have lots of competitors to deal with. There are so many hindrances that could bring a company down. But other than that, here are the common roots on why others went bankrupt.
No proper management in finance. You must know that managing the finances is really an important task because you keep records of the money you got in your hands. Most would hire an accountant to do the task. However, some prefer to handle it without professional health and as a result, they made lots of mistakes until their cash flow goes down to zero.
Planning and research is poor. Remember that those companies which are at the top right now had made tremendous amount of time to make research. Therefore, businessmen should also do a heavy research and also planning before making some actions. But they failed on that method. Because of that, they had no idea on how to get customers and beat other competitors.
Leadership is poor. So what if your ideas are way better than others and you got the best employees in your domain? It would not matter in the end if your skills in leadership sucks. This became another common reason why others totally failed. They cannot properly motivate their employees and do not have skills in managing their work under pressure. Furthermore, their decision making is quite poor dragging them down to failure.
Legal Problems. When your research and planning is not enough, you may end up violating some government laws. Some owners have done that and faces the risks on different angles. Even some big companies went down because of legal issues like money laundering. Unethical practice will follow some legal issues.
The path for this career may be full of challenges. Surviving it can certainly be hard. Nevertheless, you would learn something after those challenges. And your learnings will surely be put to a good use and helps you avoid bankruptcy.
More people now are staring to run their own businesses. However, many failed every single day after many months and years. Based on a statistics, 49 percent failed after their first five consecutive years. On the other hand, 30 percent never reached at least two years. It does made you questioned on why it happened.
As mentioned above, the path is quite risky. And for beginners, they might somehow get intimidated to start their own. You might have the perfect ideas to sell in the markets. You might also have the good quality of workers who would help you in achieving your goals. But regardless of that, you also might be missing with some elements which became your downfall later on.
Finding customers are also hard especially when most of them are quite satisfied with what they have. Meaning, they do not necessarily need to make some purchase from your company. Furthermore, you also have lots of competitors to deal with. There are so many hindrances that could bring a company down. But other than that, here are the common roots on why others went bankrupt.
No proper management in finance. You must know that managing the finances is really an important task because you keep records of the money you got in your hands. Most would hire an accountant to do the task. However, some prefer to handle it without professional health and as a result, they made lots of mistakes until their cash flow goes down to zero.
Planning and research is poor. Remember that those companies which are at the top right now had made tremendous amount of time to make research. Therefore, businessmen should also do a heavy research and also planning before making some actions. But they failed on that method. Because of that, they had no idea on how to get customers and beat other competitors.
Leadership is poor. So what if your ideas are way better than others and you got the best employees in your domain? It would not matter in the end if your skills in leadership sucks. This became another common reason why others totally failed. They cannot properly motivate their employees and do not have skills in managing their work under pressure. Furthermore, their decision making is quite poor dragging them down to failure.
Legal Problems. When your research and planning is not enough, you may end up violating some government laws. Some owners have done that and faces the risks on different angles. Even some big companies went down because of legal issues like money laundering. Unethical practice will follow some legal issues.
The path for this career may be full of challenges. Surviving it can certainly be hard. Nevertheless, you would learn something after those challenges. And your learnings will surely be put to a good use and helps you avoid bankruptcy.
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Get a detailed list of the factors to keep in mind when picking a bankruptcy attorney Oakland area and more information about an experienced lawyer at http://www.centralcoastbankruptcy.com now.
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