Six Reasons Why So Many Businesses Fail.
Prepared By: I. A. B. Wrigley FRSA
Starting a new business can be a highly rewarding endeavour and almost everyone who embarks on such a venture has high hopes of enjoying financial success, and the lifestyle that goes with that… why though do so many business ventures end in disappointment and frustration? The purpose of this document is to give the reader an all-important ‘reality check’ and try to dispel any romantic, unrealistic notion that might exist in the mind of any ‘wannabee’ entrepreneur, namely; that starting a business is easy and that only a minimum of effort is required to become financially independent. I would like to focus on the difference that really makes a difference… In other words what are the PITFALLS that MUST be avoided? I have written this paper for the benefit of individuals who, like you, are looking to start their own energy saving business, regardless of the products or supplier with whom you ultimately choose to be associated with. It may also prove to be a valuable resource for an established organisation looking to diversify into this rapidly burgeoning industry. There are many facets to the energy saving business, thereby creating many diverse business opportunities. This document however is focussing on the distribution of energy saving solutions and products to the end user, so… the ‘business’ referred to is that of purchasing products from a manufacturer or wholesaler and reselling them to the customer in response to their needs. I am certainly not intending to give comprehensive details of all the present offerings in the marketplace as these are constantly changing; rather, the objective is to provide insight into what are the most important aspects one needs to consider before embarking on this new endeavour; factors that are both constant and universal. In other words… what are the critical success factors for starting a new business, especially an energy saving.