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HOW TO PREVENT YOUR BUSINESS FROM FALLING by ANTHONY OBI

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What are the best small business survival
strategies for entrepreneurs ? How do you
prevent your business from failing ? Well,
i advice you read on to find out .
When it comes to business failures ,
mistakes in business and business
challenges ; I bet I have written a lot on
this business blog with respect to those
subjects . So today , I want to deal strictly
on how to prevent your business from
failing .
Statistics shows that 99 % of all businesses
started , fail in their first five years . Now
what’ s the cause of such high rate of
business failure? I can ’ t answer that here
because I ’ ve explained everything in
previous articles ; just check them out .
In this article , I want to simply share
with you how you can get your business
off the list of the 99% failures ; I want to
share some tips that will help prevent
your business from failing . If you are
ready to learn , then below are eight ways
to prevent your business from failing .
How to Prevent your Business from
Failing :
1. Prepare for failure

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“ Prepare for bad times and you will only
know good times .” – Robert Kiyosaki
Preventing your business from failing
starts with you the entrepreneur because
the survival of your business rest solely
on your shoulders . Get yourself ready to
fail but do all within your power to avoid
failure and you will never fail. One of the
primary reasons entrepreneurs fail is
because they fear failure and that fear of
failure prevents them from trying new
innovations on their business.
Most people say that the fear of failure is
the beginning of hard work; that might
be true in the world of employees and
academic professionals but it’ s doesn’ t
work that way on the street . When you
fear failure, you become over cautious
and over cautiousness is a requisite for
failure . I believe the fear of failure is the
beginning of failure . Entrepreneurs don ’ t
fear failure; they thrive in the face of
failure .
As an entrepreneur , I will advice you
prepare to face failure should in case it
shows up. Preparing your mind for
failure will help you bounce back quickly
to success when you fall . Another way to
prepare and prevent failure is to keep
learning how to build a business. The
business world is dynamic so you
shouldn ’ t be static. After all ,
entrepreneurship is a process ; a journey ,
not a destination . Use every free time you
have to learn something and increase
your knowledge; It will help your
business in the long run .
2. Be careful of the decisions you make
“ I have made tough decisions , always with
an eye on the bottom line . Perhaps it ’ s
time America was run like a business.” –
Donald Trump

You are an entrepreneur and that makes
you the pilot of your business. Therefore ,
the survival of your business tomorrow is
dependent on the decision you make
today . So don’ t make hasty decisions ; if
you are in doubt over the effect of a
decision you are about to take , discuss it
with professionals and sleep over it. Even
if it means seeking advice from external
advisors; do it . A piece of advice from a
seasoned professional can prevent your
business from failing .
“ Before making an important decision , get
as much as you can of the best
information available and review it
carefully, analyze it and draw up worst
case scenarios. Add up the plus or minus
factors , discuss it with your team and do
what your guts tell you to do .” – The
Mafia Manager…continue reading.

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