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3 BAD reasons why your business Stinks and Sinks!

bad business

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It appears failure has located your business address. Everything you do sees no results. Your blog is a complete mess. Nothing seems to work despite the beautiful design, wonderful hosting, great contents, etc.

As a matter of fact, these things don’t bring profit directly -> Hire the best writer, get the best graphics designer, employ the best developer, etc will not still work. You will still be broke!

Shocked?

Yes! These items only help your business grow. If you have not dealt with the 3 points I want to expound in this post, mind my words, you don’t even have a business and that’s where your first problem lies.

You may go ahead and spend your whole day on social media, do a lot of blog commenting and guest posting, etc. At the end of it, your landlord will still be on your neck because of unpaid bills.

Many people have abandoned they ventures thinking it does not work. No! It works. They simply were unable to identify these 3 points and work on them.

A knife is a good tool but if you handle it from the sharp end, it becomes your enemyEnstine Muki

So let’s examine the 3 reasons you have never seen success despite the investments. I’m sure by the end of this post, your are going to rethink your strategies to change your tomorrow. You will see a rise in your dollars. Not as indicated in this image;

bad business

3 BAD reasons you will NEVER succeed in business – They make you sink!

I have been blessed recently to have known a cool and knowledgeable guy in business. Don Purdum is the one guy that has inspired me big time and I dedicate this post to him. These 3 points are the reason for his blog. He teaches you how to work on them and take your profit level to the next step.

Here are the points:

1 –  You don’t really understand the business you are in!

I think that’s the baddest point here. If you don’t understand your business, everything else you do will certainly be on the wrong foundation.

This is almost like not even having a business.  There is no way you can do well in something you don’t understand. You cannot even build on unclear ideas.

My advice is to go back and learn. Study the ins and outs of what you have chosen as a business. Without this required knowledge, you may never see any growth.

NB: In this business encyclopedia, you’ll find everything you need to know about building a successful business.

2 – You don’t understand the problems you are trying to solve!

Every successful business is that which solves problems. You must understand that people don’t spend on things that don’t generate solutions to their problems. If your business doesn’t satisfy a need, there is no hope.

How do you solve a problem you don’t understand? It’s impossible and you know it. You can’t gamble and succeed. You will end up provoking and creating more problems.

Here are things to do to understand the problem you are trying to solve. You MUST try to;

  • First, identify the problem.
  • Know the causes of the problem.
  • Know the different ways it affects its victims.
  • Know how bad or to what extent it can affect it victims.
  • Know how it relates to other problems.
  • Know the consequences of not salvaging the situation.
  • Know the best approach and solution to the problem.
  • Then strive to know every other thing about the problem.

If you have this complete knowledge of the problem you are trying to solve, you will certainly pull the crowed that’s affected by that problem.

3 – You don’t even know the people affected by the problems you try to solve!

In other words, you don’t even know your clients. That’s about the worst ignorance any business person should ever have. Everything we do in business is trying to satisfy a specific people. But if we are unable to locate our target people, how then do we serve them for their money?

That’s like crafting a beautiful business letter and at the end, you don’t know who to send to – no address. Isn’t that bad enough as your letter will just be good for the dustbin ?.

Is your business suffering from these points? Maybe you are already thinking to drop. Do you want to achieve online success? Well, give Don Purdum a try. Contact him here.

If you have something to add, a comment to make, a feedback, please drop in the comment box below.

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Enstine Muki
 

Certified Cryptocurrency Expert, Problogger and Serial Entrepreneur

Adesoji

Very BIG problems my friend.

So many people have this problems and they don’y know they do. At least, I’ve come across people who find it hard to understand the problem they are trying to solve for others
Twitter:

    Akaahan Terungwa

    You are not alone, my dear Ade.

    I’ve seen a ton of online businesses which are clearly confused who exactly is their reader. I’ve also seen a ton of businesses offline who have not clearly identified their customer, their prospective customer’s age bracket, income and other very important stats.

    You see, it was for good reason that the business inclined men invented the SWOT Analysis and the concept of Feasibility Studies. I sincerely wonder why many persons would rather ignore such vital tools these days, whether they’re online or off.

    Be certain to make the day great!

    Always,
    Terungwa
    Twitter:

      Adesoji

      You know, most of those people got into business because of money not because of actually solving people’s problem.

      They put the cart before the horse and then run into bigger problems.

      Also, most of them believe that spending time to learn business principle is a waste of time they are meant to be doing “busyness” on business.

      Thanks
      Twitter:

        Akaahan Terungwa

        Ade,

        I love the term, “busyness”. In his 4 Hour Work Week, Tim Ferriss famously argued that most people spend their whole day fooling themselves that they are working why in the real sense, their productivity equals 0….or just a little over that!

        Never did it occur to me that it’s possible for a whole business to be run on the ‘principle of busyness’. What a great waste of time and energy!

        Be certain to make the day great!

        Always,
        Terungwa
        Twitter:

    Suprabhat

    Hey Adesoji,

    You bring up the problem which many bloggers are facing, some of the bloggers even don’t know the solution of any problem and give suggestion to other newbies, due to which they get into some else problems and Hence Total time waste.

    Regards
    Suprabhat
    Twitter:

      Adesoji

      Such people are not really concerned about what works for people. They only live on what someone else say without having a practical knowledge about someone else said.
      Twitter:

    Enstine Muki

    Hey bro,
    The fact is, if you don’t understand the problem you are trying to solve, you are never going to be able to provide the most appropriate solution. You will help your clients aggravate their problems 😉
    Enstine Muki recently posted…BroadedNet ~ Customized widget, targeted traffic on autopilot!My Profile
    Twitter:

      Suprabhat

      Hey Enstine,

      Right said,
      If you will hang around some groups on facebook you will find many people who are giving SEO tips even if they don’t know much about it.
      Which made new bloggers to move in wrong direction and hence Failure.

      Thanks
      Regards
      Suprabhat
      Suprabhat recently posted…12th Anniversary Hostgator ~ Save Up to 65% Off on New HostingMy Profile
      Twitter:

        Enstine Muki

        It’s a common thing to see people try to give tips on something they don’t even know. Becoming really funny 😉
        Twitter:

      Adesoji

      Exactly. They cause more problems and also make those who really have the solutions to look like fake
      Twitter:

Oloyede Jamiu

Hey Enstine,

Thank you for putting this up over here.

You have raised three important points why a business can sink, stink and eventually fail.

In addition to what you have said, i would say if one does not know the proper solution to the people which the business is catering for, its another good reason the business would always fail.

It is quite important that we understand every businesses we work on in order to be successful in them.

Failure is not option, every business owner is interested in making profits. That is all we want and are working towards.

I have learnt from these. Looking forward to more of these in the future.

Have a nice day ahead.
Oloyede Jamiu recently posted…Learn from my Mistakes: 10 Lessons Learned from 5 years of becoming an Internet EntrepreneurMy Profile
Twitter:

    Enstine Muki

    Thanks for the contribution bro…
    I love the phrase ‘failure is not option’. That’s only true in the case where these 3 points have been identified and dealt with clearly. On the other hand, failure has a bigger chance 😉
    Enstine Muki recently posted…Who do men say you are? Here’s what they say I am!My Profile
    Twitter:

Atif Imran

Starting up a new blog/website, This mistake is committed by many bloggers, they choose a topic they don’t know them and can’t achieve their goals after a few days.

Thanks for useful tips.

By the way, logo is awesome.
Twitter:

    Enstine Muki

    Hey Atif,
    Thanks for stopping by and dropping a contribution.

    Hope you have a wonderful week 😉
    Twitter:

Ngwu Chinedu Joseph

Hello Sir Enstine,

Though i havn’t learnt much about business but your tips seems very clear, together with your illustrations.
Yes, many people do not know much about the business they are into so they find it difficult succeeding in such business.

One has to ensure that his or her product solves the needs of the clients. It is also pertinent to learn how to target this clients, letting them know what you have to offer.

This is informative, I learnt a great deal. Thanks for sharing.
Twitter:

    Enstine Muki

    Hi Ngwu,
    Thanks for taking the time to read and drop a comment.

    I hope you are having a great week
    Twitter:

Akaahan Terungwa

Hello Enstine,

Like the pro, that you are, you’ve crafted another masterpiece which clearly shows you know your business and are interested in helping others: others whose needs you have identified and are ready to solve.

You see, many bloggers and info marketers do not really understand the type of business they are running – neither do they have the slightest notion of their target audience. In all my business life, such a blind strategy facilitates mediocrity better than anything else, whether it’s online or off.

Without a target audience, a business is already grounded…what would provide the forward stimulus?

You rock, Enstine. Find time to make the day great!

Always,
Terungwa
Twitter:

    Enstine Muki

    Thanks for the comment bro and I made my day great today 😉 and of course, that’s with your contribution.

    Beautiful comments 😉
    Twitter:

Dennis Seymour

Enstine, you raised some great points. Sometimes it is easier for some niches, sometimes, it takes a longer time to get to the point of knowing what to actually do to reach the end goal.

Thanks for this post. It puts things into perspective as it keeps me from losing my direction.
Dennis Seymour recently posted…SEO 101: What Gordon Hayward Can Teach You About Link Building Using Link BaitsMy Profile
Twitter:

    Enstine Muki

    This for commenting straight to the point Dennis
    The key is in learning and laying a solid foundation before any other move. If we do this first, we minimize the risks of running into trouble because of lack of adequate knowledge

    Thanks for stopping by today bro. I hope you are having a great week
    Twitter:

Chris Goldberg

I love the idea of what you said in the introduction sir Enstine. If you didn’t know how to handle one situations, it can be harmful to you rather than helpful. Like if you are solving a problem but you didn’t really know the solutions, is like punching on the air.
I agree with what sir Enstine said, You don’t understand what you are trying to solve. For me, the only solution if I don’t know the problem is to research for it or tell the truth to your readers or customer, sometimes, telling the truth is better than making it fake (people will not trust you if they noticed).
Twitter:

    Enstine Muki

    Hi Chris,
    I love the last phrase of your comment.There is no way you can succeed if you are fake. Come out clear and tell the truth.

    BTW how are you this week?
    Twitter:

Chris Goldberg

Just an off topic question, sir, are the Blogspot widget on Broadednet are still ongoing? I am really waiting it.
Chris Goldberg recently posted…How BloggerBux Get 1300+ Visitors In One Day With Single Referral Site AloneMy Profile
Twitter:

    Enstine Muki

    Yes! The developer delivered a copy and we had issues with it
    So he is reviewing

    I’ll send a mail once it’s ready
    Twitter:

Emebu

Three powerful tips for every business minded person to go and meditate upon, thanks Enstine.
Emebu recently posted…How to Get WordPress Blog Indexed by Google in Less Than 24 HoursMy Profile
Twitter:

Adesanmi Adedotun

Hi Muki,

I solely believed that business strategy is all about business mind set; you aim of starting will only give you the chance to stand in the midst of difficulties; starting a business should be on the platform of making your readers a happy readers and not on the verge of satisfying yourself in the first place.
Twitter:

    Enstine Muki

    Hey Ade,
    I love the last part of your comment. It’s about your clients not you. We commonly say “Le client est Roi” ie, customer is king. If you give him that preference, he will give you his money.

    Do have a wonderful day bro
    Twitter:

Rahul Patel

Hey Enstine,
I like this quote – A knife is a good tool but if you handle it from the sharp end, it becomes your enemy. And you are looking great in the logo. 🙂
Twitter:

    Enstine Muki

    Thanks for that Rahul 😉
    Are you grabbing your own caricature too?
    Twitter:

I. C. Daniel

WoW love that quote bro’.
I have a topic with famous quotes on my forum, I’ll post it on my forum very soon.
Finding and solving people’s problems with true smile is a real business in my opinion.
Twitter:

    Enstine Muki

    That’s interesting to know Daniel! Please let me know when it’s up so I can stop by. I’m heading straight to your forum BTW

    Hope you are having a great week
    Twitter:

Ammar Zeb

Exactly, before stepping into any business you really need to identify its pros and cons and percentage of risk and work in it. Once you have had full authority of that business you can than succeed other wise failure will be at your door step.

Thanks for sharing Enstine, Keep writing!
Twitter:

    Enstine Muki

    Hey Ammar,
    Thanks for reading and leaving a comment. I love it 😉
    I hope you are having a great day bro
    Twitter:

Nisha pandey

Hi Enstine,

What a wonderful quote you mentioned, A knife is a good tool but if you handle it from the sharp end, it becomes your enemy”. I am very much agree with this line.

You have shared the better solutions here regarding business success. It would surely going to help us with our future business.

This is good to see “Don” here. I am already connected with him via blog commenting. He is truly an amazing guy.

Thanks for sharing this great article with us.

Have a nice day!
Twitter:

Don Purdum

Hi Enstine,

WOW! Thank you for including me and sharing my blog and ideas. What a treat!!!

It really is a big deal that people don’t know what businesses they are really in; or why they are even in their business.

As I said in my most recent article (see commentluv) people have been trained to talk about themselves and not their readers, prospects and customers.

They wonder why they are not connecting or resonating and why their blogs, websites and social media are getting no traction when everywhere they go they are told to blog and offer content if they are going to grow their business.

It’s like going to a networking event and meeting the guy that just talks about himself all of the time. After a while, he will alienate everyone.

The way to combat those tendencies is either solve someone’s problem or write to their needs, but don’t talk about yourself. Too many blogs are just company newsletters that no one really cares about.

Thank you again so much for the mention!!!! I’ve been sick the last few days and I just learned you wrote this article. I’m so honored and blessed.

Thank you again!

~ Don Purdum
Don Purdum recently posted…Will Your Real Target Audience Please Stand Up? Mass Media vs. New Media MarketingMy Profile
Twitter:

Victory

Hi Eustine,

This is indeed a must read for many folks online who are just turning in circles. Unarguably unless we know the cause and why of things, we do not know the cause. And not knowing the cause imply we cannot find the solution.

It is always best to have definite purpose when venturing online.

Thanks
Twitter:

Eedris Saminu

Hello Sir Muki, Thanks for the Super awesome post, i must say many people business failed due to the 3 reasons listed above, and the funny thing is some of them still don’t try to identify the problem at the end of the day they quit their business which is very bad.

Like you said earlier “A knife is a good tool but if you handle it from the sharp end, it becomes your enemy”. i love that, it’s so on point.

God Bless and Have a Nice Day!

Eedris Saminu.
Twitter:

Divyansh Peswani

Here you go….Something that can only be expected from an acknowledged man!

This is a post one would hardly find on the internet and an online marketer, suffering huge losses require! A post that reflected out everything!!! Hope you’ll have a blasting weekend!

Regards,
Divyansh
Twitter:

Brittany Bullen

Enstine,

I’m so glad you brought up these issues and they’re definitely things that have been on my mind lately as I’ve been reading Don’s blog a lot. Some of these questions have clear answers for me and some don’t, and I’m struggling to put things together.

As a blogger there is so much to do, sometimes I really don’t have a minute to stop and think about WHY I’m doing all these things. I love to create content, I do it for fun, and I know I don’t promote my content as much as I should and I’m only just beginning to figure out how to make money from it all. I could certainly benefit from a bit more clarity, that’s for sure. Thanks so much for the reminder!

Brittany
Brittany Bullen recently posted…Why Won’t the Cool Kids Pin My Stuff on Pinterest?My Profile
Twitter:

Funmy Kemmy

Thanks for writing on why business fails. Those powerful tips are worthy of meditation by every business minded person. Understand the problem/business, proffer solution and follow up on resolving the problem. Fantastic!
Twitter:

Shalin

You see, it was for good reason that the business inclined men invented the SWOT Analysis and the concept of Feasibility Studies. I sincerely wonder why many persons would rather ignore such vital tools these days, whether they’re online or off.
Shalin recently posted…5 Common SWOT Analysis Mistakes and How to Avoid ThemMy Profile
Twitter:

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