This might seem a bit off beat but we just found it relevant to share here online. One of our elder peers who happen to be sort of a Mentor and a cult figure too for our company just found an article and gifted this as his dogma to be followed by us.
In a world where every one is a self claimed business guru and teaches how to be successful, this article instead brings out the basic points which makes one Unsuccessful, and hence avoid them!
Attatched pic declares them in hindi.
We are translating those in english:-
Reasons for a company getting Unsuccessful:-
1) Absence of owner
2) Imprudent owner
3) Carelessness in Accounts
4) Unorganised expansion of business
5) Stocking of wrong inventory
6) Forgetting about debtors
7) Putting huge money in immovable assets
8) Getting away too much from business's daily activities
9) Not heeding to Employee problems
10) Not maintaining proper accounts
11) Dependence on one or similar customer(s)
12) Not giving Government/Legal dues
13) Breaching Government laws/rules
14) Unfocussing from Primary works & operations of business
15) Doing business lavishly without considering Profit/Loss & Pros & Cons
16) Bad Management
Failure depends on Owner's capabilities!
Hope you found this article inspiring and worthfull.