The Real Reasons Why Businesses Fail

The fact is that businesses do not fail. The failure lies in those who lead and work in the business.

No-one wakes up in the morning with a plan to do harm, do the wrong thing, upset customers, miss opportunities, take the wrong path, waste resources, miscalculate the market, over-estimate capacity, lose the support of staff and all the myriad of other reasons that business goes wrong.

These things happen and they happen because all of us are, at some level, unconsciously incompetent. There are simply too many things that we don’t know we don’t know and as a consequence we make the decisions that lead us into trouble. None of us does this on purpose. It just happens.

In his fabulous book “Thinking Fast, Thinking Slow” the Nobel Laureate Daniel Kahnemen states it bluntly when he says, “Our comforting conviction that the world makes sense rests on a secure foundation – our almost unlimited ability to ignore our own ignorance.”

However

A recent survey in Entrepreneur Magazine in the USA revealed that the majority of its readership “failed” at least four times before they finally succeeded in establishing a robust and thriving business.

The most common stated reason that they simply had to learn things they didn’t know they didn’t know when they set off on their journey.

This challenge is compounded by the fact that being an entrepreneur or business leader can be a lonely path. We are constrained by what we already know and understand. We are also constrained by our ignorance of those things we do not know we are ignorant of.

The aim of 7^th Bounce is to help you shine a light into those areas, to have the opportunity to learn from the successes and failures of others and contribute learning from your own experience.

We are all capable of repeating the same mistakes until we eventually learn our lesson. Yet there is so much we can learn from others if only we can find the right environment and the right people.

That is the opportunity and the power that 7^th Bounce provides. 

To find out more visit www.7thbounce.co.uk and explore how to be a success, not a statistic