Success does not happen overnight

Every businessman wants his new venture to grow and flourish. Success does not happen overnight – it takes time, patience, loads of hard work, sacrifices and financial support. In spite of all these some businesses still fail, others struggle and some do well. What marks the ones that do not do well? Why do they fail?

It could be a combination of many factors - lack of clear vision, low level of commitment, unwise business decisions, poor financial management, mediocre time management, , poor monitoring of market performance, weak personnel practices, failure to delegate, lack of trust and weak leadership, giving up too soon etc.

Stagnation in thought and action

Or it could be because there is a stagnation in thought and action. If initially planned strategies do not work out, it is necessary to determine the reasons for it and then plan another course of action. You have to honor your commitment to your business and build it up – discard ideas that don’t work,  think up new ways of doing things, fire people who are not committed, change your approach to business, get in people who are motivated and innovative – do whatever you need to get the business up and running. You have to act and move, not sit and whine or hope your fairy godmother will wave a magic wand and help your business to succeed.

Change the circumstances

If the circumstances are not right for your business, change the circumstances, change the scenario. If nothing works in spite of your best efforts, maybe you should think of a new line of business. If it’s a better option, then change your priorities, change your goals, change your product-mix, change your advertising, change your HR policies. Adapt to the environment around you. You do not have the luxury of standing still – that way you will only stagnate, not grow.

If you do not change, your business will die. So change because that is what your business needs in order to survive and grow and do well. Change is good even if it has to be brutal at times. Do not let fear and uncertainty stop you from implementing change. Be bold, create uncertainty in the market, challenge your competitors and your employees and take your business to greater heig