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10 Reasons Why Most Businesses Fail

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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    Excellent, and spot-on.
     
     
     
    Thank you, Richard!
     
    David Jackson
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    proactive1proactive1 subscriber Posts: 1
      
     Chuck, this is a great system! The more you explain it, the better it sounds. David Jackson
     Thanks, David. The `Corporate Book` procedure I`ve implemented is on the advice of my accountant. The simplicity of it really keeps me on track. I started doing the journal only after incorporating recently, but I realize it`s something I probably should have been doing long before.
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    Thanks, David. The `Corporate Book` procedure I`ve implemented is on the advice of my accountant. The simplicity of it really keeps me on track. I started doing the journal only after incorporating recently, but I realize it`s something I probably should have been doing long before.
     
     
     
    No problem, my friend. Regarding getting a late start on your journal, my view is "better late than never!"
     
    David Jackson
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    It`s basically one reason why business really fail, it has to do with the person who works it and the people you surrounding your business you can`t change them too especially in a bad housing market area which is especially problematic for small business people.
     
     
     
    What???
     
    David Jackson
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    Too many entrepreneurs get stalled on the business plan and end up missing opportunities.
     
     
     
    Getting stalled on the business plan? I`m assuming you`re talking about procrastination, which is an entirely different matter.
     
    I`ve compared a business plan to a roadmap or GPS. I found a great  article by J.C. Smith titled  Why Is A Business Plan Important To A Business,  that supports and elaborates on that comparison in a delightfully informative manner.
     
    David Jackson
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    proactive1proactive1 subscriber Posts: 1
    David,
     
    Your last post inspired me to do a search for "best business plan articles" and this led me to this page at http://office.microsoft.com/en-us/templ ... &av=TPL000. There`s an excellent business plan template for start-ups developed by SCORE (Service Corps of Retired Executives) right at the top. Plus there`s plenty more to choose from.
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member

    David, Your last post inspired me to do a search for "best business plan articles" and this led me to this page at http://office.microsoft.com/en-us/templ ... &av=TPL000. There`s an excellent business plan template for start-ups developed by SCORE (Service Corps of Retired Executives) right at the top. Plus there`s plenty more to choose from.     Chuck, I`m glad that I inspired you. I was already aware of the resources that you posted. However, I`m still glad that you posted them, because even though I was aware of them, others here might not have been. They`re great resources! I thank you! David Jackson
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    DentonDenton subscriber Posts: 0
    I have actually found that lack of research hurts soooooo many business`s.  Is there somebody who does this better?? cheaper?? Exactly who are my customers???  What do they want???  What are their spending habits?? hobbies?? reservations about my product or service???  Make a list...and just start pitching your idea to anybody who will listen.  You will be terribly surprised by their questions.
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    I have actually found that lack of research hurts soooooo many business`s. 
     
     
     
    I couldn`t agree more. So many marketers want a successful business, but they`re not willing to put in the necessary work. Personally, I think market research is a lot of fun.
     
    David Jackson
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    DentonDenton subscriber Posts: 0
    here is the research I did in creating my start-up!!  I hope this helps.  If you want to see what this lead to check out my profile.I
    paid three separate groups to compile my research.Wal-Mart
    electronics departmentGamestopDomino`s
    PizzaBlockbuster
    VideoX-box
    LiveEach
    group was given a check list and sometimes a tool to measure the
    information I needed to compile.Wal-Mart`s
    check list asked 100 parent`s & relatives how many games they buy
    their kids in a year. The average was 3!Gamestop
    they had two checklist asking how many times are games traded? and
    what is the average age of a gamer buying for themselves and on
    release date where do you buy your games? A
    sticker was put inside the inside case of 100 traded games...the
    average number of times a game was traded was 4. You just doubled
    your money on one game!Average
    age of gamer`s was 31 years old!On
    release date they ran to Wal-Mart to buy their games at midnight!
    44% percent of the time they were out of their game. They threw that
    info in for free.Domino`s
    Pizza out of a 100 customers 62% were either watching movies or
    gaming!Blockbuster
    VideoOut
    of 100 customers how many were getting food to go, or delivered?48%Xbox
    LiveOut
    of 100 people what are you eating & drinking while you play? Why
    are you eating that particular food? Are you alone or with your
    friends?Chinese
    was 43% why because they deliver!Pizza
    was 42% because they deliver!Subs,
    Cheese Steaks, and Mexican rounded out the rest of the field.Drinks
    sodas
    were 61%energy
    drinks & caffeine based products such as Starbuck`s double shots
    rounded out the rest.These
    numbers gave me my target customer base, single or working parents,
    and the hardcore game! They are the ones who will buy my products on
    a consistent basis.
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
     here is the research I did in creating my start-up!!  
     
     
     
    Good job, Denton! You obviously take your business seriously.
     
    David Jackson
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    DentonDenton subscriber Posts: 0
    Unfortunately still need to find an investor...because this is a hybrid and never been done, it is hard to convey exactly the return...My figures only show about 60 % of the actual return.  The other potential monies can`t be measured.  At an investment of 112,000 you would think  return of 45% of 1.4 million would be enough to sway investors.
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    Unfortunately still need to find an investor...because this is a hybrid and never been done, it is hard to convey exactly the return...My figures only show about 60 % of the actual return.  The other potential monies can`t be measured.  At an investment of 112,000 you would think  return of 45% of 1.4 million would be enough to sway investors.
     
     
     
     
    Try Scott Murphy`s  Advantage Capital Partners.  They`re from my neck of the woods here in upstate New York.
     
    David Jackson
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    It`s a Great article.
     
     
     
    Thanks, Will.
     
    David Jackson
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    DavidJacksonDavidJackson subscriber Posts: 143 Silver Level Member
    Excellant article Mr Jackson, hit it right on the nail again.
     
     
     
    Thanks, Bobson!
     
    David Jackson
     
     
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