Today women have been at the forefront of ever and ever working for a variety of opportunities. Such opportunities include investing in small and medium enterprises. It is clear that the mother is the one who suffers the most when the family has a bad economy. Mothers do not like to see children miss out on their basic needs such as food, clothing, education, medical treatment, etc.
Thus, the issue of improving the family income has led many women to seek various ways to earn a living, including doing business.
Yet despite these efforts by women, many of their businesses are still dying for a number of reasons. Follow me in this article to understand the five things that cause so many women's businesses to die.
1. Lack of business knowledge and education
Anything or any job requires the right knowledge so that you can do it effectively. It is obvious that many women start a business without preparing for it or looking for the skills needed to run the business. Remember here I am not talking about secondary education or university but knowledge that will enable you to run the business effectively. For example you need to gain knowledge that will enable you to do the following:
Cash handling (including loans if you borrow)
Handling business information
Customer search
Production and improvement of products, services, etc.
These are just some of the basic knowledge a trader should have. If a businesswoman acquires this sufficient knowledge, the operation of her business will surely be better and more secure; so his business will last longer. This information can be obtained free of charge from institutions that empower women as well as online.
2. Lack of support and cooperation
In order to be successful in a number of areas we need the cooperation and support of other people in one way or another. I do not mean that we should depend on other people for everything; but just remember that you can't do everything on your own. Many women lack cooperation especially at the family level.
Instead of the husband or other family members giving the woman a share in her business they are the first to ridicule her, discourage her, talk to her, pile things up and even leave everything to her alone. As a result, this woman is overwhelmed and unable to afford her business.
3. Imitation or lack of creativity
Most women when they start a business do not use creativity but they are distracted by seeing only other people's businesses. Before you start a business make sure you use creativity to design your business.
Avoid imitation because you do not know what is in the business you are imitating; there may be unforeseen challenges. Don't just see the business on the outside and jump on it; also make sure you choose the business you choose from the bottom of your heart.
4. Desire
Many women are attracted to certain things even if they are not financially viable. Today you have seen your friend have a phone or wallet or earrings or shoes or even some clothes and you want to have them without even knowing what the cost is and how you will get that money. This has led many women to use their business capital for ambitions and competitions.
Several times you will hear a woman say "I have eaten capital"; there was something wrong with me or something cost me. Certainly if you develop ambitions you will not be able to run a business and it will be successful. You just have to be more discriminating with the help you render toward other people.
Things You Can Do:
Identify your income potential to set boundaries.
Specify the mandatory use.
Set aside business money and your personal life.
Save.
Avoid the desires and temptations of friends.
5. Family responsibilities
In Africa, a woman has the greatest responsibility to be close to her family. It is not easy for an African woman to succeed in business all day long without having other arrangements to take care of her family.
This issue has been making women less likely to have time to settle down and run their businesses; this has significantly affected many women's businesses. However you can do the following to deal with this:
Seek help with some of your business or home responsibilities.
Make the most of your time (Minimize unnecessary work - no need to sit in a salon all day long while you can comb your hair or comb and comb it.)
Involve the family in the division of responsibilities so that they too can reduce your workload.
Choose a business that you like and can afford; this will give you more efficiency when you work on it.
Conclusion
What has been discussed here are some of the major factors that cause many women's businesses to die. However ways to deal with these issues have also been discussed; so it is only a matter of you making decisions so that you can afford and succeed in your business goals. Set goals today and pursue them, and you will succeed.
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