3 Reasons Why Your Business Still Fails Despite Hard Work.

Hard work is good but it does not guarantee success in business. People will say, "work hard if you want to succeed." The truth is, if hard work is the major key to success, why are load carriers, labourers, truck pushers, hawkers and heavy carriers not successful business owners?

Do you think they don't work hard? They even work under the scorching heat of the sun, some under the rain, both at late nights and early hours of the morning.

Now, if success in business is basically about hard work, they would have been very successful business owners.

Here, I will be showing you 3 reasons why your business still fails despite your hard work.

Poor smartness in business: Poor smartness in business is when a business owner does not act wise in his business dealings.

It is one of the major reasons for business failure. It makes you achieve little or no result despite your hard work.

It makes you unable to identify and attract your customers. It prevents you from knowing the relevant ideas and tactics to market your goods and services, including how to treat your customers.

It makes you not to recognize the risks that will benefit your business to take them.

Smart business owners are risk takers, they know which risk to take and the ones they should not. They see opportunity in crisis.

Smartness in business helps you to work less and excel more.

This is because you will spend much of your time reading biographies of successful business owners and learning from both their mistakes and successes which in turn helps you to grow faster.

Smartness in business makes you creative because of acquired knowledge and ideas that you have gained through meditation, reading of courses that will help in promoting your business and research.

To be a smart and successful business owner stay away from television, social media and movies. Limiting your entertainment time is a sacrifice that must be made to become successful.

Poor Accountability:

Poor accountability in business is the reason why many businesses are stagnant. Many have eaten the future of their business with their mouth.

So many business owners don't have records of their business sales and profits. They give out goods on credit without any record and signed evidence.

Any business that you don't attach value to nor account for will never progress.

Also, not having savings as a business owner is poor accountability and that's very risky. "Have a plan and you minimize your risk" Niel Patel.

Plan out your finances in the beginning and try to stick to it. Have a business book, pen down every sales and profit. From your profit put yourself on a salary scale, avoid spending all your profits. Reinvest your profit into the business and save too.

Spend less and plan more.

Have a future plan for the business, where and what you want it to be like in the next six months, one year, ten years etc and strive to achieve it.

Avoid selling goods on credit, if at all you will give out goods on credit, let it be signed including when to pay back.

Poor Consistency:

Poor consistency in business is unprofessional. It is an act of being a Jack of all thread master of none.

This is also one of the reasons why your business is not growing. People are tired of following you because you are not consistent. When they request for the goods they bought from you before, you won't have it and you are already selling another thing.

When you are not consistent, you become ineffective and distracted.

Consistency makes you good in your field. This will help you to build your business from the ground up, through perseverance and grit.

Be known for something. If you are into fashion, grow deep in it, be a professional in it. Let people know you with it.

The act of jumping from one business to the other is a major reason for business failure.

Maintain focus. Remember, if your eyes are fixed on a particular thing, your whole mind will be full of ideas and you will become successful in that thing.