Why Some Business Fail?

So, you have started a business. You have the vision, your business is original, you have the money to start it, but how will you keep the business going? I know a lot of businesses that started quite well but sadly, they didn’t last very long. It could be because of mismanagement of money and people, lack of focus, poor customer service, and there’s just a lot of factors why some business fails and it all boils down to one thing; the lack of discipline. The person of disciplined basically control their lives. Whether it is about self-improvement, financial success or managing your own business, discipline is indeed one necessary skill to acquire.

However, not everyone is aware of it. In fact, discipline is one essential skill that most schools have never really paid much attention to. Do you even know why the very first skill to learn in military is making bed? If you are going to think about it, seems like it’s not much of a help when they’re in a battle but the first lesson one must learn if you’re in a military is making bed and they take it seriously. The reason for this is not only to be organize or have some sense of responsibility but to actually teach discipline in their subconscious. This is how subconscious works, through habits and repetition. And any skills that have put into your subconscious stay there for the rest of our lives.

Learning discipline could be hard especially if you don’t fully understand yourself. This is why I am an advocate of self-discovery. Failing to understand yourself is the number one factor why self-help materials don’t seem to work for you. Try to observe yourself. Make time to discover yourself. In my entire existence, I can say that I have never wasted any of my time for those times that I spend trying to know myself. You can do the same thing. Trust me, you are worth knowing.

Here are some techniques that I personally use on my business to be a person of discipline. One of these might work for you too or maybe you can come up with your own ways as you go through a self-discovery process.

1. New Habits. One factor that hinders us from becoming the person of discipline is our old habits. Even when you know what you need to do, sometimes, our old habits get in the way. Even when our mind wants to complete a certain task, our body would rather follow what our habits dictate us because old habits become our default. So, to beat the old habits, the best way is to make new ones. Everyday I wake up, I used to check my emails, my messages or browse on my social media. 

When I started my business, I commit to two hours of not touching my phone. My new habits include having my coffee while speaking to myself everything that I am thankful for, including the smallest of details. After that, I’d go by the bay, about 10-minute drive away from my home just to set the tone of my day. At first it was hard. And at the bay, I would feel the morning and visualize how I want my business to go for the day. I would picture customers coming back and forth. I would picture myself talking to old and new people to book new events. When I finally feel it, I would speak it like some sort of command and it goes like this; “I command that today will be prosperous and magnificent day.” And that’s the same energy I would bring in the production. Somehow, I influence all the people working with me and I never had a single day without a sale.

At night time, what I usually do is watch the news but I replaced it with meeting with staff and doing the inventory. I don’t always like to do it. In fact, on the first week, I feel like it’s not really making sense. Imagine having a meeting every day. But after a week or two, when the people and I get the hang of it, it doubled up the sale and made me a very hands on business man. Later on, I’ve realized that I’m not only teaching myself a discipline but the rest of the people working with me too.

Maybe you can replace your old habits with your new habits for the growth of your business. Maybe you can actually give time for planning a marketing strategy instead of having your Friday night out. Believe me, little things when accumulated together has big impact. If you’re not sure which habits you should replace, here’s a tip. Anything that doesn’t help you is a distraction.

2. Written goals. I have white and cork boards where I usually write my goals for the business every day. Everyone who works with can see it too. Sometimes, the goals are just the same but I still post new notes anyway. What I do is I distribute the goals to the people who work with me and at the end of the day, I’d let them mark the goals that they have achieved. So far, everyone has been hitting their targets and my productivity gets better. Some people call it quota, but I call it goals. The huge difference of the two is this; if you say it’s quota, there should be some sort of reward once one has met it. When you say goals, it’s like a guide or the boss’ expectation on how they should do their jobs. Another difference is this; with quota, workers do everything to give their best performance for the incentive. But isn’t that what they supposed to do in the first place? With goals, they do their job diligently the way they should be. And what do I give them in return? A sense of accomplishment. 

3. Long Term Goals. To keep me enthusiastic to my business is to keep my long-term goals in sight. I read my long-term goal three times a day. I make time every day to do something that makes me one step closer to reach it.  I often visualize the results once these goals have achieved. It recharges my energy and motivates me almost instantly. One discipline that one must practice in business is to always imagine your business in the long run. This is one secret to stay focused. You should be aware where your business is heading and you have to make sure that you are closer to that ultimate goal every day.  Just like what they say, out of sight, out of mind. So, remember to keep your eyes on the prize.--M.D.