Business failure….business success. Here’s five reasons for both:
- Inexperience – experience
- Poor interpersonal skills – good people skills
- Minimal financial knowledge – solid understanding of profit and loss
- Average customer service – outstanding customer care
- Mediocre products – excellent products and execution
Business is complicated. For the most part, the above reasons are the “soft side” of business and often more difficult than inventing some new innovative product/service. As part of a long-term strategy….these five elements need to part of that strategy.
Looking back….we did all five well.