Dubai, United Arab Emirates Mar 21, 2021 (Issuewire.com) - According to Riyaz Suterwalla, It is important not to associate failure with quitting. Think of it as a normal part of your business. Act when something fails and act when it succeeds. It will help you make the right decisions next time.
Good business ideas fail not because of the market you sell to, but because the market has disappeared due to economic changes or natural disasters. You cannot predict disasters before you start a business, but you have to determine what the market is and whether it is big enough to be profitable says Riyaz Suterwalla
Riyaz Suterwalla also added that The main reason why small businesses fail is a lack of funding and working capital. In most cases, business owners are well aware of how much money is needed to maintain operations on a daily basis, including financing payroll, paying fixed and differing overheads such as rent and utilities, and ensuring that external suppliers are paid on time.
But the owners of failed companies are less attuned to how much revenue is generated from the sale of products and services. This separation can lead to funding gaps that can put a small business out of business. The second reason is that entrepreneurs often misjudge the price of products or services.
While statistics suggest that the more mature a company is, the better chance it has of staying in business, they also suggest that a third of new companies do not make it past the 2-year mark. In short, companies that know how to do business fail the fastest. Looking at the business aspect from a statistical perspective, most other small businesses fail for a reason. It's just that you don't know what makes your business fail.
At the end of the day, it doesn't matter how many times you fail (Henry Ford's two tries went wrong) as long as you hit it off the park. You don't fail because you gave up. You fail 20 times and reincarnate your business 21 times. If you make it to the 21st time, you have not failed because you have not given up.
Media Contact
Riyaz Suterwalla *****@gmail.com 9713212144 Office 1403, 14th Floor Churchill Towers https://www.f6s.com/riyazsuterwalla
