Failures That Often Occur In Business – Failure in business is a natural thing, considering that running a business requires several processes that are able to achieve success. Failure to do business is not even something that always has a bad impact. Any failure can provide motivation for business people to be more active and improve their business performance. So of course the business that is run will increasingly rise from failure and towards success. However, to turn a business failure into a business success requires a strong determination by business people. Business people must continue to be positive in seeing the risk of failure that will or is happening in their business and immediately act to rise. In addition, business people need to know what risks or failures in business often occur so that they are able to prepare and be more careful.
Then what kind of failure in business that often happens? Let’s look at the following reviews:
1. Failure to conceptualize
In business, making this concept is important. This business concept is used as a reflection of the business itself, in other words, this business concept should be in accordance with the type of product or service offered, target marketing and so on. To make conformity between the business concept created and the business being run, it requires various considerations so that it does not become a factor causing failure in business. Failure in business is like failure in making this concept, such as when someone has a pizza culinary business with good quality, but the business can be said to have failed. The failure was due to the wrong business concept, in which the culinary business carried the concept of a lesehan place to eat. Of course it is not suitable to be applied in the culinary business such as pizza.
2. Failure to analyze the market
Analyzing the market in business is useful for knowing consumer needs so that business people can learn about them and try to meet these needs by creating certain products or services. By doing a good and precise market analysis, of course, it will generate a large income for the continuity of the business being run. However, if the business actor is wrong in analyzing the market, it will certainly cause losses because the products or services offered are not in accordance with the needs of consumers so that they are not sold according to the target. For example, in the rainy season where consumers are on the rise, they need a raincoat, umbrella and other warm clothes. However, at that time there were business people who offered household appliances which of course did not suit the needs of consumers and as a result consumers did not buy them.
3. Failure to define a product or service
Determining the product or service offered is an important main point when you want to do business. As a business person, it is necessary to consider various things related to whether or not the product or service to be offered is appropriate. Indeed, basically consumers have different needs, but it is not wrong as a business person to consider what kind of product or service is appropriate to the needs of most consumers. So that with this it will minimize the occurrence of products or services that are not optimally sold and will have an impact on losses or failures in business.
4. Failure to communicate
When running a business, communication is important and needs to be done well. Where with good communication it will avoid the occurrence of various kinds of conflicts that can occur such as misunderstandings that will have an impact on a failure in business. So as a business person, you must be able to communicate well in business, lest when there is an event such as product marketing to consumers, they do not communicate well, for example, do not use polite language or sentences, and speak less gently. If this is done, it will have an impact on consumers’ disinterest in the products or services offered.
5. Failure in selecting human resources
Running a business certainly requires the participation of people who are able to make a real contribution to working together to achieve business success. In making a real contribution, it must be followed by a selection process or screening of existing human resources. The selection process must be carried out properly and carefully because running a business requires people who are capable or competent in terms of soft skills or hard skills. Where of course the hard skills are in accordance with the field of business that will be run and these soft skills will help encourage good skills or performance. So don’t be surprised if many companies or business people take various steps or ways to choose human resources to help run their business. When the process of selecting human resources can be done correctly, business success will also be achieved, whereas if it is wrong to choose human resources, it will have a negative impact, namely failure in business.
Basically failure in business can occur by various factors and can happen to any type of business. However, it doesn’t hurt if you as a candidate or business person know the failure in doing business as discussed above so that you can try to avoid it. That’s our discussion of failures that often occur in the business world, hopefully this article helps and makes you not experience that failure