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UPDATE! Bulletin - TNNWC GROUP/ TNNWC Weekly Newsletter - 08.22.2010
Dear Friends, Members, Colleagues and Others Who May Be Reading This Over Someone Else's Shoulder (you really should get your own free Membership and subscriptions at http://bit.ly/JoinTNNWC ):
We've closed the polls on our last and most recent survey, and have the results here for you to see:
While there are many reasons, sometimes operating in combination, that new businesses tend to fail (sadly, the successes are the striking exceptions!), Please rank each of the reasons below on a scale of 1 to 5, with 1 being the LEAST significant and 5 being the MOST SIGNIFICANT. Thank you for your input. Polls will close on August 15th. Thank you for participating! At TNNWC, your opinion not only counts -- it is vital to our providing you with better service.
To repeat, 1 is the LEAST SIGNIFICANT and is the factor of least importance, and 5 is the MOST SIGNIFICANT and the factor of greatest importance.
Again, thank you for providing your invaluable input into this quick survey. Here are the issues to be ranked on a scale of 1 (lowest) to 5 (highest):
1. POOR BUSINESS PLAN
2. THE PRODUCT OR SERVICE IS UNORIGINAL, "ME TOO," OR "PLAIN VANILLA" - There's plenty of alternatives (and competitors) out there in the market.
3. LACK OF ADEQUATE CAPITAL FOR LAUNCH AND OPERATIONS
4. POOR MANAGEMENT, WEAK LEADERSHIP OR UNCOORDINATED TEAMWORK
5. A DIFFICULT ECONOMY WITH INADEQUATE ASSISTANCE FROM THE GOVERNMENT
6. POOR PROMOTION, MARKETING OR BRANDING
-----------------------------
1. POOR BUSINESS PLAN
12%
2. THE PRODUCT OR SERVICE IS UNORIGINAL, "ME TOO," OR "PLAIN VANILLA" - There's plenty of alternatives (and competitors) out there in the market.
4%
3. LACK OF ADEQUATE CAPITAL FOR LAUNCH AND OPERATIONS
14%
4. POOR MANAGEMENT, WEAK LEADERSHIP OR UNCOORDINATED TEAMWORK
25%
5. A DIFFICULT ECONOMY WITH INADEQUATE ASSISTANCE FROM THE GOVERNMENT
27%
6. POOR PROMOTION, MARKETING OR BRANDING
18%
Take a look at the above statistics. It would seem that that most of our respondents believe that the government is not being as proactive as it should be in properly "stimulating" the economy. What should the government be doing? What if the government continues to "fail us?" What do we do then? This warrants further discussion!
With Our Very Best Wishes (and Actionable Plans!),
Adam J. Kovitz and Douglas Castle
TNNWC Group, LLC
Dear Friends, Members, Colleagues and Others Who May Be Reading This Over Someone Else's Shoulder (you really should get your own free Membership and subscriptions at http://bit.ly/JoinTNNWC ):
We've closed the polls on our last and most recent survey, and have the results here for you to see:
WHY NEW BUSINESSES TEND TO FAIL
RANK THE REASONS
While there are many reasons, sometimes operating in combination, that new businesses tend to fail (sadly, the successes are the striking exceptions!), Please rank each of the reasons below on a scale of 1 to 5, with 1 being the LEAST significant and 5 being the MOST SIGNIFICANT. Thank you for your input. Polls will close on August 15th. Thank you for participating! At TNNWC, your opinion not only counts -- it is vital to our providing you with better service.
To repeat, 1 is the LEAST SIGNIFICANT and is the factor of least importance, and 5 is the MOST SIGNIFICANT and the factor of greatest importance.
Again, thank you for providing your invaluable input into this quick survey. Here are the issues to be ranked on a scale of 1 (lowest) to 5 (highest):
1. POOR BUSINESS PLAN
2. THE PRODUCT OR SERVICE IS UNORIGINAL, "ME TOO," OR "PLAIN VANILLA" - There's plenty of alternatives (and competitors) out there in the market.
3. LACK OF ADEQUATE CAPITAL FOR LAUNCH AND OPERATIONS
4. POOR MANAGEMENT, WEAK LEADERSHIP OR UNCOORDINATED TEAMWORK
5. A DIFFICULT ECONOMY WITH INADEQUATE ASSISTANCE FROM THE GOVERNMENT
6. POOR PROMOTION, MARKETING OR BRANDING
-----------------------------
OUR READERS RESPOND!
AN ANALYSIS OF THE RESPONSES
Out of 180 completed responses, our readers ranked the the reasons for business failure as follows. Each percentage reflects the number of respondents who thought that that particular reason was the most significant reason for new and young business failures:
12%
2. THE PRODUCT OR SERVICE IS UNORIGINAL, "ME TOO," OR "PLAIN VANILLA" - There's plenty of alternatives (and competitors) out there in the market.
4%
3. LACK OF ADEQUATE CAPITAL FOR LAUNCH AND OPERATIONS
14%
4. POOR MANAGEMENT, WEAK LEADERSHIP OR UNCOORDINATED TEAMWORK
25%
5. A DIFFICULT ECONOMY WITH INADEQUATE ASSISTANCE FROM THE GOVERNMENT
27%
6. POOR PROMOTION, MARKETING OR BRANDING
18%
Take a look at the above statistics. It would seem that that most of our respondents believe that the government is not being as proactive as it should be in properly "stimulating" the economy. What should the government be doing? What if the government continues to "fail us?" What do we do then? This warrants further discussion!
With Our Very Best Wishes (and Actionable Plans!),
Adam J. Kovitz and Douglas Castle
TNNWC Group, LLC
Capital, Traffic Building, International Customers and unique SERVICES.
The National Networker Publications™ produced by TNNWC Group, LLC
“Empowering Emerging Enterprises”
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