1) Missing Innovation Around customer money making model.
All the Businessmen and merchants they see their money making model,
But the don't see their customer money making model, they see their margin, their profit. This is very wrong.
When they will start knowing profitability, liquidity, Gowth, productivity, Gross margin, Revenue, Inventory turnover, cash flow, Brand equity, customer acquisition, Retention and speed of transaction of a customer growth, That time only there Greed will fulfil with customers need.
2) The second thing is that 'Negative Cash flow, Negative working capital.
A check in hand is nothing you need Cash!!
Negative cash dries your working blood, it will take all your power of doing your business
That's why, It will work as your enemies.
For business cash and profit both are very essential thing, it's possible that you get more profit ,but your cash payment, is getting delayed and the recovery is not getting and its getting very slow.and its the reason for searching funding Agency of most of the businessmen
Therefore; there should not be negative cash flow and capital.
3) Expansion of negative margin
Last one is about Cashflow, this is about Margin, they think that for acquiring the market, pick up the loss leading strategies And selling chep their product if the valuation will grow, then we will take funding And grow it, from starting if you don't know from where the profit is coming they will surely die! For selling cheaply don't compromise any time with your margin , they haven't planned for longer time that from where are profit will come. If not, prepare while starting then you sit repairing it all time, then there is Written SHUTDOWN!!
4) Lack of talented Manpower
High Performance Team is the must &best solution for running of The business,
Ex_ The MUGHAL EMPEROR AKBAR team comes in India , there are 9 people as 9 Gems In his team, he Controlled All over India with the help of his 9 gems.
For Achieving Success in business, you should create High potential, high performance, high Skill & high will People team as your teammates. You should know and pursue peoples with Competency Mapping, competency assessment , ideation into Execution , Most talented etc for your Business .
You have to identify there Age and by energizing there age, you have engaged them at work.
5) Scalability with reccuring revenue model .
Scalability and recurring revenue model are two different things,
Scalability is the model of making the business Complex, Some startup are more profitable, some are good giving in margin, some are with regional strength ,but people doesn't think about scalability fo the business , retention of customers, revenue, etc.
For stationation and retention of business you should use reccuring revenue model by this your customers will not Leave you.
Many people does that they catch new customers and old customers leave them,this should not happen.
6) Mixed marketing signal and wrong position.
This is the big problem of businessmans and merchants,
They even not know what is the position of them, their products in market, what they are ,whose there perfect customer and inperfect customer, perfect product and imperfect product.There product planning is failure, Segementation, market demography, Psychography have to Search for it &correct it and after that they have to represent the product again in the market.
Find your single signal, Are you Newest,
Are you Prestigeous, Are you most reliable ,Are you Problems Solver, there are many positions like this ,when you know this then by that way you will do Packging ,Marketing ,Branding, by that way you will present, you will bring new schemes ,etc.
7) Releasing Product as a Laggard.
Laggard means late Coming, All market will come to saturated and then they come for selling their product by begging that "buy my product" " buy my product" Then they will sit giving Discount, brings Schemes, desend or loss their margin, Loss their credit .
The Safement of your business depends on the timing of your business, Are you identifying the adoption curves of the Market etc. This will happen when you Release your product as a laggard.
8) Save yoursafe from outcome Competent.
You Had Started your business successfuly but your Competitor eye on you and your business, he is watching you continuously ,He is keeping eye like a eagle , He is silently sitting and watching you like a poker .
For this Planned your Intellectual Property rights, Patient and licensing
Proprietary Technology very properly that the Secret would not be open to your competitors , Build your economics of sales and purchase the stock cheaply . By this way your business will run from red ocean to blue ocean by creating barrier in between you and them. Form starting you have plane for Entery Barrier.
9) Missing the process of converting feedback into feed-forward
Customer gives you feedback but you not convert into feed-forward, its your big mistake. Customer discuss about the problem of the existing product but you thik that they are doing all this for discount ,He is giving you signal but you can't identify it,"Complent is a gift catch it" He want to be with you but only thing
That he is expecting please change your self.
Complening customer is very good, get him in your hand , You should get pevot in your product , Convert the feedback into feed-forward, this customer is better than those who goes to your opponent without complaining you.!!
10) Business model of building complete ecosystem.
1)Ex- "one live depend on another live for his Life". This is web in business ,
2) Facebook ,YouTube, paytm is are an Ecosystem.
Join all world with your business, do such that world profit is going with your existence, when you will go this worlds will stop, hence Create an Ecosystem in your Business.!!
Thank you!
0 Comments