10 businesses in the world flop within the first 18 months

*10 businesses in the world flop within the first 
18 months

8 out of every 10 businesses in the world flop within the first 18 months of their launch. This small business failure rate has a direct impact on the domestic economy.* The failure rate of Start-ups in Pakistan is 90%.That is to say, 9 out of 10 businesses suffer failure.* According to the Small Business Administration (SBA) report, 66% of businesses survey only within two years.* The remaining 24% fail within the next five years.If you are a failing businessman, have you ever analyzed the reasons for failure?Can you overcome these reasons to become a successful businessman?
In the case of small business failures, our economy faces a loss of billions of rupees every year. The economy of a developing country like Pakistan where the majority lives below the poverty line cannot afford this time.

I have tried to list the reasons for the failure of the business in the form of a checklist. You can never become a successful businessman by removing these10 defects.

What is Business?

The Oxford Dictionary

"A person146s regular occupation, profession, or trade"

Gathering the scattered crowds and efforts of individuals on one platform to give these efforts a positive, effective and profitable direction is actually called the business. The business makes a person a responsible person in society in many aspects. In this article, we have tried to identify some of the aspects that lead to the failure of a businessman. Will be useful to an important class.

1: Don't set goals to your goal

Not setting clear goals is the first drawback of a failing businessman. If you do not set your goals, it is important not to just keep moving. A successful businessman's mind knows how to set clear goals. To do And why to do it? What other goals can your business have besides just making money? These are just a few of the questions that have a positive and clear answer not only for setting goals but also for achieving them. The process is also very useful in setting up.

2: Open-minded lack of broad thinking

An unsuccessful business person is a person with limited thinking whose thinking revolves around a specific area. He fails to find and acquire new means to expand his business. Seek new opportunities. This broad thinking of a successful businessman gives rise to entrepreneurship.

3: Self-reliant Independent Nature

Relying on yourself is the key step towards a successful business. A failing businessman has a severe lack of reliance on his own efforts and his own resources. This error can cause failure very quickly.

4: The ability to test positive thinking

An unsuccessful businessman has the ability to examine the circumstances and issues and decide according to the requirements of the time. This ability of the Judgement depends on the intellect and the body suffers repeatedly due to deficiency.

5: Over-optimistic overconfident

Always hoping for an improvement in situations and events can be beneficial for an average person but not for a businessman. Keep in mind that everything is not what you want. Especially in a business where changing every step Damn it affects a businessman's policies. A successful businessman is fully aware of this fact, while the policies of a failed businessman are based on optimism and optimism rather than on the realization of facts. Self-esteem and optimism lead to the loss.

6: Lack of Professionalism

There is a severe lack of professionalism within a stupid and talented businessman. This professionalism is born of skill and experience. Because a failing businessman lacks both of these things and the same lack of business life. I lose most chances of success by doing it on several important occasions.

7: Lead time management Lead-time management

It covers the delivery of the product or service required by the Gap Joker Consumer Order called the lead time of a business or company.

Lead Time Reduction is the most important point of a business or a company's success. A failed businessman never focuses on that point. It is a sign of a businessman's obligation.

8: Unaware of public trends

A successful businessman is always aware of the latest and changing public trends and takes action. While a failing businessman is simply unaware of the changing environment and the latest trends, he makes his own decisions.

9: Lack of consistency

Consistency is the key to success in any case. The inner temperament of a failed businessman is severely lacking. Frustrated by only timely and trivial failures, he changes his tactics and decisions and never stays on a consistent thought.

10: Welcome strangers

Greeting strangers and building good relationships with them is very important for a businessman. It shows new angles and trends of the business. Suffering from the type of fear of the unknown.