Everyone, in my opinion, will have something to say if given the chance to speak in front of an audience, even though some people may not be able to do so because they are naturally timid, while for others it won't be a problem. Well, the message and its effect on the audience are the main factors we should take into account while speaking to the spectators.
As an introvert, I don't particularly enjoy talking much, and even when I do, it's usually only with close friends, but that doesn't stop me from being averse to speaking in front of a large group of people. I used to have that phobia, but I've overcame it and can now speak in front of any large crowd.
So that aside, diving into the topic I'll be speaking on if given the opportunity to speak to an audience, I've got a whole lot I can speak about that I believe will have a positive impact on the audience, but for this write-up, I'll be speaking on one of the things that has been lingering in my mind over the past few days.
So for the topic, I'll be addressing the audience on the topic that speaks on the reasons why their business may never grow. These are the reasons I'm sharing because we've seen a lot of people dive into business, but only a few of those who do so really succeed in the field.
WHY YOUR BUSINESS MAY NEVER GROW
We've seen a number of firms start up, and after some time, we find that they go down with no discernible negative effects on society or the business owner themselves. I'll be offering the following advice to address this and stop it from happening to both existing and future business owners:
- Squandering your profit: True, the main goal of starting a business is to make extra income, but most people don't realize that the money they make from their trade in business was intended to be invested back into it. By doing this, you'll end up with more stock than you did when you first started the business, but if you choose to waste the money, the company will likely remain stagnant or gradually lose value until it's no longer in existence.
- Unwillingness to take risk: Life involves risk, and if we don't take it, we would not be able to accomplish as much as we could if we participated in borrowing. Many individuals have avoided loans because they are afraid of taking risks because they are worried about what might happen if they were able to repay the loan.
What these people don't realize is that the majority of the large businesses and stores nearby are supported by loans and stocking up on credit, helping them maintain consistency and, as well, possibly meeting customers' needs at all times, unlike someone who won't be able to restock goods due to a lack of funds or a reluctance to take a risk.
- Recruiting incompetent staffs: We've probably seen people hire people to manage and support their businesses, but for one reason or another, they chose to hire someone out of sentimental reasons despite the person being less qualified than others. This kind of mentality has destroyed many businesses because a business needs the right and competent hands to flourish.
The reasons listed above and many others are just some of the reasons why your business might not thrive. To change that narrative, all that is required is to make changes in relation to the points listed above; if there is any area where you fall short, make changes, and you'll be surprised by the results you'll see in your company over time.
Thank you for reading my blog post. The article was motivated by an HIVE community topic that exhorts us to write on a subject on which we can address an audience when the chance arises. To learn all the specifics, read through @kronias post.
Hello there, Vic.
Wait a minute.. did you just say you’re an introvert? Wow! Very surprising.
Well, good choice of topic. A lot of business owners needs to read this.
People just venture into business without knowing the in and put of it, and at the end of the day they find reasons why their businesses aren’t growing.
Thanks for sharing.
Yes I'm an introvert hehehe, well you might be surprised because I most of my talking online, offline you can mistake me for someone that's mute.
Yes truely business owners or intending ones need to learn all the necessity before diving into it.
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The worst thing that could make a business go down especially into bankruptcy is by hiring incompetent staff. You have to find someone who is passionate about the business and is ready to take it to the next level and not one who ends up making you go into debt.
Also, squandering your profits especially in your first trade isn't ideal enough. At least profit made should be invested back. Even if you must enjoy, make sure to have enough profit to enable you do that.
That's right on point, we should always look out for the best candidate to help us manage our business without minding the difference.
So does spending profit too, it will literally run down the business in no time, but reinvesting will yield more income.
Thanks for your input.
It's my pleasure 😊
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This is a great topic to talk about, many people are not business inclined but they still go into business anyways. Some because a neighbor is into business and they end up loosing everything.
Yea you're absolutely correct, many jump into business because they saw others doing it or prospering in it and felt it's that easy, learning the hack is what will make us successful.