Longevity in Business, Do you Want to Flourish your Business Rapidly?
It used to be said that businesses would be around for a very long time but this is not longer the case. There are many companies that we have seen around for years but have now finally closed down and have disappeared. The thing is that many of these companies in 1985 which were some of the top companies have now become obsolete or have downsized, some of them have even been bought by other companies that have now become stronger than they were.
Not every company gets to the top
There are many companies who do not get to the top and there are some who do. The problem that some of these companies have is that they fall into a trap the first is the:
- Physical Trap – Big investments in systems which are old and old equipment which does not allow the company to grow and does not introduce new investment.
- Psychological Trap – The company is only interested in what made them money and success and do not introduce new things and miss sight of what it is they need to add to their company.
- Strategic Trap – The Company is only interested in what the marketplace has to offer for today and they are not looking towards the future.
Technology changes things
The problem is today that so many things change such as technology and companies do not keep up with this and so they fall behind. This in turn then makes them less competitive and they lose profits and business and they also lose their edge. Opportunities are missed and what is called tunnel vision sets in and they go off course of what really matters and this does not just apply to large companies it also applies to small companies too.
Failing companies
The problem with many companies is that they fail within if not their first year but within 5 years and that is a hard thing to break. But what is the secret to success well that is something that many business owners will not be able to tell you. Of course it helps if you are able to create a niche in the market which no one else has thought of and you also create a business that people need. Without these and other things you will find it rather hard to make it in business.
Businesses that have gone
There are many businesses that we will all remember that have been around and now they have gone. We would never have thought for one minute that such famous companies would no longer be on our high streets and in our daily lives.
Large companies that have taken over
Which is a terrible thing to have happened because we would never have considered that these companies would close down they had been around for so many years that they were just part of our life but unfortunately other companies that eventually became much bigger and took over suffocated these other businesses that we had all come to know and love and caused them to close. Like many things in life good things must come to an end it is just a shame that they had to end the way they did.
Author Bio:
Austin Richard Is an I.T professional from test4prep. He is 9L0-010 certified. He is now getting prepared for 9L0-064 exam. He likes to write about Business, and Technology.
Category: Business
