strategy, invest their efforts, money and time on their business to take it to new heights of success but then also they do not succeed in their business due to various reasons. Most of the time failure demolishes the desire to continue the business activities, as a result, the businesses shut down their business. But they have to understand that instead of shutting down their business they can motivate themselves to work harder for achieving success.
According to a report, there were around 404,000 startups (which was less than one year old) and 392,000 firm closures in 2014, the number of startups businesses has hovered around 8% in the last few years and this number is expected to grow more in nearby future. And according to Harvard Business School lecturer, the failure rate of businesses is growing high with each passing day, in the U.S, more than 75% of Start-ups Failed and shut down their business without completing their five years in business. Various reasons are responsible for the failure of businesses.
Ways to Overcome Your Business Failure
A single mistake of a business entrepreneur can throw all of their previous business achievements in dark, failure not only damage business reputation but also throw them to the starting point. However, it does not matter that you fail in your business what matters is how you deal with the situation, giving up must not be the end of your business story.
Finding new ways to overcome the business failure and starting again is the only way to move forward. The entrepreneur must always try to overcome business failure and must have positive learning experie