There are many reasons a business could fail, A business owner reduces the risk of failure when they select a business that fits their God given abilities and interests. By Gary Shotton #000494
Click Here to download in audio (.mp3 format); right click on link and select “save as”
Click Here to download in video (.mp4 format); right click on link and select “save as”
Business Failure – Wrong Business
By Gary Shotton
This text is in Extreme Rough draft and will be edited in the near future.
Hello my name is Gary Shotton, and I’m here as a part of inspiring better business. And I’m doing several talks on the subject of business failures, not to be negative at all, but to point out why some businesses fail, and I can kind of group them into several different reasons and today I’m going to talk about choosing the wrong business. And I’ve seen businesses start and various countries, and I asked myself, Why in the world did that person choose to enter into that business after talking to them a little bit I could kind of see that man. Their heart was in this. They didn’t have any background and experience, and various reasons they chose to start a business that really didn’t fit them at all. Now, I’ve got to mention this upfront that if you’re just having crumble in your business. Don’t jump to the conclusion that oh I’m having trouble in my business so I must have charged chosen the wrong business. Never do that. Listen to me all the way through and help determine whether or not you do have a business this match for your skills, interests and desires, or whether it be maybe you did choose the wrong beer, some said there would be a way to exit that or get out of that with, with pride and satisfaction and get into a business that fits you properly. It’s kind of like wearing a jacket or coat or something you’re going to go to church in, you know, Not every coat or jacket or cover our shirt fits the same person the same way. And so, we’ve got to look at this and say, How can I have the best chance of being successful in my business and one of those reasons would be choosing the right thing. Well, let me tell you of what I saw was a business failure was just by phone and this was in country and in East Africa, or Congo, I can’t remember which. But this individual I’m talking to them on the phone and they said I need to increase sales. I don’t have enough sales I said Well, give me a little more information and this was a man and he was describing what his business was and he was buying off from foreign enterprises probably off the boat from some foreign manufacturer women’s dresses. Now, in general, women’s dresses and women’s clothes will sell much better and much faster in most countries than men’s clothes because women tend to have a little more desire for a broader broader selection and maybe a more diverse closet of clothes that they could choose from and, and if it’s like myself, I’m kind of happy just for the same shirt I’ve got, so that the, the demand could have been there I don’t know, but the unique thing was this man. How did he get into selling this well, he had zero interest in women’s clothes he had zero knowledge about women’s clothes, he had, I say zero he had very little, he was not knowledgeable about the styles. You see in clothing, I would think he would want to be studied up and have a desire to know what’s the new fashions and what’s the new styles and what’s the new colors and and how are we trending. And in talking to him he was from a totally different background, I don’t remember what it was but it was like construction or agriculture, and I came to conclusion that he wanted to get into business so bad that the first opportunity was someone selling wholesale clothes for women, and he had either credit from that individual or had some money market or his own and he jumped right in and it was not a fit, and there was no way I could, in my own right mind, think of how I could encourage him to, to study and get his thought pattern wrapped around women’s clothes. Well, here are some of the problems he didn’t find something that fit him. What do I mean by fit that individual or fit you and I want you to pause at some point here to think about really what really fits you, right now just take us a minute and think about it. What am I interested in, what are my desires, what are my preferences, and what do I like to work inside or outside, a building, I mean, behind a desk or outdoors with, with, with people am I am I am I willing to put, get my fingers dirty or my, my hands dirty with something or I’m more interested in this kind of a clean environment I mean, little things. You see, God has created us all uniquely, and we ought to go with the flow we ought to go with what God has created us, and I can’t tell you again. What’s exactly right for you but I’m giving you broad perspectives, it’s going to be consistent with what you have a desire to do at least on your first business later on you might try something outside your comfort on that first one, and again I stayed several times don’t jump to conclusion just because something’s not going well or you’re not having sales that you’ve chosen the right business you well may be in the right business, and you just need to create a better knowledge of some of the other laws that we’re talking about. So, let me give a couple of good examples, my friend miner. Paul miner. In a town in Kenya. I visited with him three years ago and we had another person visit there in the last several weeks, and it’s amazing. They are outdoor people, they saw the need for crushed rock to make cement paving and building supplies, and that was inside their niche, they did their research, they knew what, how to go after they bought some land 12 acres of solid rock land and now since then they bought some more because they’re there, they’re buying there it’s going so well, there have the raw materials for concrete for pavement for doing roads. Wow. And the last report is now they’ve actually added value, they’re actually making cement bricks, and, and things to do with a concrete precast culverts, they are amazing while they stayed and started inside their, their gifting, let me talk about my friend Alford material in Nairobi in Nairobi, he, his stories these stories are on our website. But he, he was an auto mechanic. He was a small child. And when he had no money for toys, he would make his own toys out of just aluminum pop cans, he had a whole set of of cars made out of his own hands, and when I was there again three years ago, he had the most amazing mechanic shop, but he was able because it’s inside his ability inside his niche inside Eva’s anointing inside what God has equipped him, he’s designed to fix cars. Well now, he has many workers, he has cars that are are what we call taxis now comes with a driver, he’s buying a bigger equipment, he’s been doing remodeling, He was is doing body repair on these vehicles, and having a success like crazy good success. He knows his customer base. He knows how to take care of his customer, all because he’s in this not all because but a lot because he’s, he’s familiar with what he was doing. So, I plead with you to think about this. Be careful to stay inside. On your first business for sure inside something new, somewhat enjoy that God has equipped you for, you have an extra skill sets and don’t just go out for the first chance to cheat and get into business, don’t decide to try to find something that you think is going to get you rich. Getting rich is not the goal. Having provisions, honoring God with a marketplace, honoring God in the marketplace is our goal. And so we played with you and encourage you to think, again, think strongly and all the way through, there’s other reasons, things about finding something that, that is in demand, or finding a surplus and selling that there’s a long list of other things but I think number one is make sure your business fits you like a glove on your hand. Thanks for being a part of Inspiring Better Business.
Subscribe To Our Newsletter
Interested in getting updates from IBBTalks.com on featured content and new videos? Fill out this short form and we will send you a short weekly email to keep you informed about resources that will help you in starting, growing, and excelling in business.
***We will never share or sale your information with any affiliate and will only use it for your expressed purpose of receiving information about IBBTalks.com***