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Why Do Retail Businesses Fail So Fast…Part 2

Why Do Retail Businesses Fail

Business Killer No 6: Inadequate Capital and wrong Application of the Available Capital As a retail business, you will hold inventory, either in your warehouse or shelves and inventory ties down money. Even if you want to stock “lean”, by holding minimal levels of inventory, your capital will still be tied down. Also, you will need assets e.g. computers…

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Why Do Retail Businesses Fail So Fast?

Critical Reasons Why Retail Businesses Fail

If you want your business to succeed, you’ve got to be deliberate about your strategy. You must know  that businesses do not just succeed, that they are made to succeed! You must know that though money is important towards the success of a business, it is not the main or the only reason why businesses succeed or fail; many…

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Critical Reasons Why Retail Businesses Fail

Critical Reasons Why Retail Businesses Fail

Apart from founder or management dysfunction and the many other factors kill retail businesses previously discussed, (see our previous posts here), technology, cash flow and treasury management dysfunction, failure to take care of your personal health and safety, poor inventory management practices, over-trading, over expansion without taking present capacity into consideration, are some very Critical Failure Factors that easily,…

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Strong Reasons Why Retail Businesses Fail: The Critical Failure Factors (CFFs)…Cont’d

  “Success in business is 90% perspiration and 10% inspiration”(Thomas Edison,1847-1931). Jack Dorsey,founder of Twitter and Square, twitted in 2013 to his followers and said ” Success is never accidental”, See “Zero to One“, by Peter Thiel. Inspiration is lifting but perspiration completes the equation. If you are going to succeed in retail, you must deliberately work on those…

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