top 10 speed breakers you should avoid to grow your business

TOP 10 SPEED BREAKERS YOU

SHOULD AVOID TO GROW YOUR

BUSINESS

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• PROMOTERS PLAN AND DREAM TO GROW. BUT THE EXPECTED RATE OF GROWTH IS NOT ALWAYS ACHIEVED. THERE MUST BE SOME WEAKNESSES OR LAG SOMEWHERE. STATISTICS SAY THAT MORE THAN 95% OF THE LOSS MAKING COMPANIES FALL UNDER SMALL SCALE CATEGORY; START-UPS DIE EVEN AT IDEA GENERATION STAGE OR PLANNING STAGE

TOP 10 SPEED BREAKERS YOU SHOULD AVOID TO GROW YOUR BUSINESS

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Let us discuss the speed breakers:

• Speed breaker 1: Lack of will power

• Promoters start businesses either as one man decision maker or in partnership. Will power to carry out the business must be strong. Even all partners should have full and same spirit towards achieving the goal.


There is the normal tendency of job hopping in the employees. Moreover, they are reluctant to spend more time on work than allotted time. Also, they are happy of getting off more holidays. Employees must develop an understanding of completing the assigned project within specified time with the best quality.

Speed breaker 2: Lack of committed work force


It is least important that business plan is written on paper for reference. Normally, promoters understand that attractive business plan will help in fund raising. But promoters should have the business mind set to implement the plan.

Speed breaker 3: Lack of sound business plan


A team of employees may lack in the required skill set. Proper training and work experience will help in developing a skill set. This lack does not affect the growth of business much

Speed breaker 4: Lack of skill set


Businesses require fund. There may be no access to the required amount of fund or late availability. Moreover, the fund may be available at a very high cost, which normally happens in risky ventures.

Speed breaker 5: Lack of access to fund


Today economy is very vibrant. Forecasting of expected change and taking required action is necessary. In the absence of these, the company will lose market share to its competitors.

Speed breaker 6: Lack of pro-activeness


In India, government regulations are tough and complicated. Although the basic reason is to promote corporate governance; it hampers the businesses.Corporate law and other structures should be simplified. Similarly, tax structure should be business friendly.

Speed breaker 7: Government Regulations


Execution of projects requires good coordination and proper communication among employees. Intra team and inter team coordination must be good. There should be extra workforce as back up in the absence of any employee. The extra work force should also be trained and well communicated.

Speed breaker 8: Lack of coordination and communication among employees


The good approach to executing work should be adopted. Decision makers and project leaders or employees should not develop the procrastinating attitude.

Speed breaker 9: Procrastinating attitude


Right decision and right time both are equally important. There must be the perfect match of right decision and the right time. A wrong decision at the right time or right decision at the wrong time will affect the business growth.

Speed breaker 10: Lack of right decision at right time


• To conclude, speed breakers are obvious while riding. But name of the game is to observe, find and remove these. The growth of the business has to come and dream of promoters are not at distance.

CONCLUSION


Venture-Care is the most reliable one-stop online solution company for all your business needs. We generate ideas, spark actions and quantify time-bound results by providing tailored, practical and affordable solutions for the growth of your company. If your dream is to start as a small enterprise and reach the zenith, then we can help in each and every step to reach the goal and chart a growth path for you. We assure that Venture-Care is dedicated to turning good ideas into measurable change.

For more detail visit on our website www.venture-care.com


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