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CB Insights He came up with a series of reasons why a business fails.
“The Millennial Economy 2018” It is a study that has concrete figures of why a business fails.
The Failure Institute has percentages of entrepreneurs wanting to launch a new business, after they failed with their last startup.
A bad joke affected a pastry entrepreneur and proves the protocols that must be followed today to avoid bad practices that affect newly launched businesses.
If we look at the results of study conducted by CB Insights In it, it is noted that the main reason why a business failed is because 38 percent of them did not know how to ensure the entry of capital into the business. 14 percent did it because they did not have the proper equipment.
Given both figures, there are two interesting cases that do not allow us to visualize the effects of bad practices in a business and the solutions that are carried out in the face of these problems, which can serve as a business case to find alternatives to a possible solution that is limited or emphatic in his proposal.
Businesses suffering from problems is not a new pathology, on the contrary, there are studies years in advance of the health contingency, which have been carried out by encountering the obstacles that very specific segments of entrepreneurs have had to deal with.
In “The Millennial Economy 2018” they realized that 38 percent did not have the financial knowledge to start a business.
“In 2018, 38 percent of the millennials in the United States said that their biggest obstacle to starting their own business was that they did not have the financial means to do so. On the other hand, only nine percent said they don’t know how to start a business,” he explained. Statista when presenting this study.
2 thousand cakes for a bad joke
Yadira Reyes He showed the most complicated facet of his venture, when he announced the auction sale of 30 pesos per cake or two for 50 pesos, when he announced that a consumer acted in bad faith and ordered two thousand cakes, which he did not paid or collected.
After publicizing the bad episode of her venture, the cake creator was criticized among skeptics who did not believe her story, while she was supported by other users.
Just as there are clients who make orders to entrepreneurs for whom they do not pay, there are also enterprises that are victims of bad elements, when Vocamx recognized that its community manager He did a bad exercise in his social networks, attacking a consumer who only asked for the specifications of a garment. The brand offered to close as a sacrifice.
From studies to practice
There is a clear lack of knowledge of the financial principles to operate a business in its startup, which leads entrepreneurs to suffer from bad practices, as if it were a chronic disease, because when poorly treated it leads to the death of those who suffer from it.
Faced with these risks, it is important to consider alternatives before accepting an order or hiring talent for a venture, on how to operate in the face of failures at this time or key personnel, which are considered to be able to improve practices in the market and, most importantly, to be able to establish activities that today remind us of the ability of an idea to be relevant in the market.
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