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ans Serif">Have you ever asked why a business that is seemingly very successful, suddenly goes out of business? There could be any number of legitimate reasons of course, but often the reason is the owner’s failure to keep a watch on the basics. So, what are the basics?

ans Serif">Failing to plan
In business planning circles there is an expression that “failing to plan is planning to fail”. Many businesses start without any clear idea about how they are going to develop and whom they’re going to serve. The dream of business is just that, a dream. For the dream to become a reality it requires not only the vision,

but action and spirit as well. Planning how the vision is going to be turned into action, and then doing it according to the plan. Doing it is the harder part. The best plans are those broken down into a logical sequence of small easy to accomplish steps. Don’t plan to grow too quickly. Make sure you have the resources in place to cope with your planned growth well in advance. It’s then up to you to implement the plan, and that’s where spirit comes into play. It’s your spirit of determination to achieve your goals that will carry you through, and the spirit that you bring to others to have them help you execute your plan. Your plan is the map you follow to reach your destination by the most advantageous route. The best plans also allow for deviations and contingencies, events you try to envisage that may deflect you off your course. The quickest road to success is one that is planned and executed according to the plan, not one based solely on hope.

ans Serif">Failing to understand the customer
What’s the use of a better mousetrap if there aren’t any more mice to catch? Many business people get so caught up in the features of the product they make and sell that they fail to understand whether what they have to offer is actually meeting a true need of their prospective customers. If the customer needs a hole, find out what for, how big, in what? If you don’t find out, you could offer a drill bit when what is really needed is a sledgehammer or a spade! Find out all you can about your customers’ needs so you don’t offer the wrong solution. Meeting customer needs is as much about providing them with emotional satisfaction as it’s about giving them something to carry away. Remember, if your business doesn’t meet their needs, someone else’s will.