| Topic : Startup Failure - Wear It As A Badge Of Courage... |
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Business & Strategy |
Investment Hub |
Effective Construction Planning Management |
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Activity:
118 views;
last activity : 11 29 2010 16:34:48 +0000
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Ask the successful others !
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Think & Rebuild
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Thee Ds
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To restart check all risk factors and arrange for appropriate finance.
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INSUFFICIENT STARTUP IDEA DEVELOPMENT
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MAKE AN INTROSPECTION
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FAILURE TO UNDERSTAND AND COMPANY WITH LEGAL OBLIGATIONS
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Preeti PImple form Tata Power
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learning the tricks of the trade and implementing them well
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Follow these points
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A good review of the risk assesssment has to be done and external aid can also be requested
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Find your mistake, do it again differently.
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BE COMMERCIAL ,PROFESSIONAL ,HONEST AND HAVE ADEQUATE EXPERIENCE AND KNOWLEDGE .
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In Indian conditions, I have got a feeling- " If you are too honest, too simple, too forthright, too frank and truthful, last and not the least too law abiding,there is a fair chance, you may fail, atleast in the first instance".
I would invite the successful entrepreneurs to comment and debate whether and how much my statements are correct. Thanks.
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Mr. Rathin Deb thanks for the refral, I agree to your point o view that honesty is the go of the day . Today also honest persons work is long lasting and honest person have the will power to win over every evil or failure.He comes with a great power after every problem .This is all practically experienced .
Yes Deepak i am in total agreement with your point of view. Dont you think the secen is changing and in future the honesty will be the go of the day though we are far from this truth but I am of the openion it started changing for the better.
Thanks for referral Mr. Joydeep. Whatever you said here is true.. And i also agree with Mr.Dipak.
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In my opinion failures are the pillars of success. One should have a very strong attitude & the guts to welcome a failure & keep on trying till he/she gets success. Work on the possible errors you made & try your best to avoid next time. |
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There can be a variety of ways that a person can bounce back from failure. A person could try & talk to others that have succeeded & learn from them. It depends on their situation & strategy for a comeback. Also it really depends on if the person is willing to learn from their mistakes and failures. When bouncing back from failures, a person needs to assess their risk potential & potential for success then develop strategies from there. What some people need to realize is that failure is the opportunity to begin again more intelligently. Many times failures can be turned into opportunities. Failure provides a great learning opportunity and it's a vehicle for success.
To help a person begin again more intelligently a person should thoroughly analyze their situation. Once you thoroughly analyze your situation, then you should be willing to learn how to develop a sound strategy. A person should be willing to apply what they’ve learned by implementing that strategy with improvements for a comeback.
Sometimes if a person can’t bounce back on their own they should seek outside resources to help them deal with their situation. Many times business consulting can help. Sometimes business consulting can help a person to avoid or reduce bad business ideas. Business consulting provides improved direction and wise counsel.
Business consulting can really help a person to bounce back even better by giving them the support & guidance that they need. Sometimes wise business consulting helps to give a person a different perspective on things, helps a person to analyze their situation better, helps a person to develop better strategies and gives a person better focus.
There will be ups and downs in business & careers. A person must be willing to learn from past mistakes, failures, develop better strategies, just try, try, again and again for better results.
~Get Business Consulting Services:
The Clerical Business Solutions company provides business consulting services,specializing in strategic planning, business management and development.
Every Entrepreneur becomes Stupid during his journey of success...it is not what works and what does not, but one should always work by considering permutations and combination's in his business plan, then only company will grow. No idea is foolish its we who are foolish, where we lack in terms of thinking and executing in the way that we wanted to become entrepreneurs. so if you have an idea, its good to think positive at the same time think more negative and work on those areas. I am sure you will rebuild your company.
failure is the stepping stone to success is an age old saying. One should not get disheartened by failure. Take the case of King Bruce who made 7 attempts to regain his throne.
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Excellent topic, Rashmi...relieved to see one useful topic after a long time... first thing in starting a business is you must know when to stop it...sometimes an entrepreneur has to face failures... Three Ds..(long long ago my Lecturer in Management taught me), Define the problem, detect the alternatives... Decide the right course of action... even if it hurts your ego... Once again congratulate you for starting a meaningful and useful discussion... |
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Thanks Mr.Shrikant for the refral Iagree to you that a person having think tank at the top can work in right direction and survive.
I want to support this idea. If you have thinking power in right direction then it may help you to come back strongly.
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To restart check all risk factors , arrange spare funds for the job to be carried out.BEe professional leave sentiments behind.Don't have faith in any one check all people as and when required. |
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Most startups do not fail because the business idea is bad. The problem is that many first-time entrepreneurs fail to actually plan the business before sinking cash into the startup. No matter how great a business idea is, it can’t succeed without detailed planning. Take the time to work through every angle of your business idea. Not only will you have a better grasp of how far your business can go, you will also reduce your risk and prepare yourself to make the best decisions as you go. |
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The entrepreneur who failed should make an introspection without any bias identify the reasons for failure and find out better alternatives to succeed.
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An unbelievable number of entrepreneurs leave the legal aspects of business startup to someone else or, worse, ignore them altogether. Eventually this failure to comply with legal obligations will come back to bite you…and the outcome can be devastating. Every entrepreneur must understand and secure all necessary licenses and permits, and set up compliance systems for taxes and fees due the local, state, and federal government. |
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I feel never to give up for one day success will be at your feet. Analyse where you have gone wrong and also put up double effort to give a start but never give up,since Rome was not built at once.
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NEVER TO GIVE UP BUT IT DEPENDS OVER YOUR FINANCIAL CAPACITY. HOW MUCH YOU CAN CONTINUE.
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The only way to come back from a start up failure is to learn the trick of the game you are playing and implement them,be better then you competitor.be ahead of the market.yep you would be a starter some day but to think that we all could be Dhirubhai Ambani or some one who was a first timer and a great success is very less chances you need to have the determination,perseverance and go get it,or the i will do it what may be kind of attitude,a quick learned,a good administrator.a person who can hire and retain talent.at some time you would need political connections,at some time you would need good lawyers.at some time you need lot of entrepreneurs working for you.understanding of the field and the customers and the suppliers and the market as a whole.sharing and learning from others.lot of social contacts.lots of socializing.This are just a few attributes you essentially need to have.
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Initially if u r startup failed then don't lose out on your confidence and better follow these points
1:- start with the basic research
2:- wherever u r wrong note that point and convert it into right ones
3:- make the whole process simple b,coz the more complex ur business, the more problem will rise up
4:- take advise frm the expert of u r business related feild...
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A good review of the risk assesssment has to be done and external aid can also be requested
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Risk assessment goes a long way in assessing the frequency and effect of the related posible risks and means to face them with a better state of mind
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In my opinion entrepreneurs are the best stunt men in the world because they start with risk, continue with risk and keep going with risk till they live, no one is perfect in the world, everyone does a mistake, and instead of regretting for mistake and starting a fresh or rebuilding it, try and find your mistake, take its responsibility and think alternatives of mistake you have done and repeat it differently because "a new mistake corrects the old mistake like iron cuts iron" |
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BE PROFESSIONAL,HONEST ,COMMERCIAL AND HAVE ADEQUATE KNOWLEDGE OF YOUR WORK AND REASONS OF FAILURE .THOSE THING CAN ENABLE YOU REBUILD YOUR BUSINESS AND MAKE YOU STABLE.ALSO DON'T HAVE FAITH ON ANY ONE.SPECIALLY ON CLOSE RELATIVE IF WORKING WITH YOU DON'T HAVE SENTIMENTS BE A SHRUDE PROFESSIONAL WITH THEM .
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