"There's a difference between business and profession." This line had stuck in my head since I read Rich Dad and Poor Dad by Robert T. Kiyosaki. It's a must-read by the way.
The trend of business has grown tremendously from the dawn of the 21st century or we can say after globalisation. But why business?
The answer is quite simple because here you have more liberty in utilising resources, applying your creativity, and developing your brand.
All these things get blurred when you don't have a good business plan. About 90% of start-ups fail. 10% of start-ups fail within the first year. The other 5% either go into debt or become stagnant.
So, what do these 5% business models are lacking?
Of course, they must be knowing what to do, but probably they don't know what not to do!!
Listen for the the 5 biggest reasons that why your business is not growing.
3 Value Bombs
- Focus on growth, not on money. Capital returns are important but not more than growth 🙂
- While taking decisions, think about all those people who trusted you from the very beginning, directly or indirectly
- Network! Networks! Network
Network with similar brands and individuals preferably your role models and learn from them.