http://www.businesscreditamerica.com/ 1-800-652-7157 In this video, I explain, why many businesses fail.
Many people imagine having a business already exstablished just like a full grown plant. However, they don't full understand that they must do the following steps in order to see it grow to its full maturity. Lets look at how you grow a plant. You pour the dirt, plant the seed, your water it often so it won't die. So basically you have to take time to nourish the business just like a plant.
There are specific reasons a businesses fail. It starts with money. Most people will borrow from their retirement plan or 401k, they borrow from their friends, family and relatives, the borrow from their saving and credit card.
Now they've dumped all this money into a business that sells tangible products. When they need money to restock they have no one to fund their business. Another reason many businesses fail is because of the market they are trying to cater to may not be responding to their product. For instance you can not stick a Louis Vuitton store in the hood, because people making between 25k to 35k don't have the means to buy 1k purses.
Another reason many businesses fail is because of their product. Most people sell a product because of the trend and it's making money now. However if you learn to do what you love and make that a product then you'll have less competition. Especially if you further your education on that product. Stop doing thing because it's trendy and making money now educatte your self on what it is you love to do and you'll always make money in your market.
I get calls from a lot of people that want to get into real estate however they know very little about real estate investing. They have very little knowledge about buying a property and what is it going to take to get that property back on the mark to get a good rate of return. Now with wall street buying residentual real estate from the banks for pennies on the dollar it better to focus on buying commercial real estate.. You get about 5 or 6 partners together and buy a strip mall and rent it out to people that are starting new business.
I hope this video was informative to someone, thank you.
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