Tag Archives: business coach

A startup can ‘go under’ for a variety of reasons. And usually, founders will point fingers at each other, attribute it to forces outside of their control, or just blame bad luck. The examples in the article should provide an inexpensive lesson to startups and entrepreneurs, about the different ways in which a business can fail, if adequate care is not given to all of the above aspects of business.

Almost all professionally, run organizations have a clearly articulated Performance Management System (PMS). There is no reason why a family business should not have one. A common practice that should be avoided at all costs, is discussing business on the dining table, or discussing family matters at work. At the office, every family member has to be treated as a co-worker. Personal relationships, equations and emotions have to be left behind at home.

Startups adopt a product centric approach, ‘make the product and launch it and the customer will come’. This approach might work if a Startup is entering an existing category where the product features and market dynamics are known. However, this approach will most likely fail if the Startup decides to launch a new product in a new market, or a new product in a new section of the existing market.

Apart from facing the challenge of building a business from scratch, most startup owners and founders have little or no experience of business. The Startup idea may be great. But as the business takes off, complex problems arise – related to managing the young enterprise, resources and supply chain, and …

“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” – Jack Welch Many business owners, particularly inexperienced start-ups, run their business without a vision in mind. They focus on short-term profit and forget about the long-term goal – which should …

A recent report by Keap and Emergent Research found that about 94% (almost all) of small business owners surveyed identify specific financial goals for their business and yet only 65% are confident they will achieve them. This leaves 29% of small business owners, (one in four) who have set specific …