StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Why did I closed down my business - Personal Statement Example

Cite this document
Summary
This is mainly as a result of lack of focus in the business. An entrepreneur is supposed to have patience and be consistent in business expansion…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
Why did I closed down my business
Read Text Preview

Extract of sample "Why did I closed down my business"

Managerial skills The world is full of enticing opportunity that makes a businessperson to be attracted towards them and put aside the business ideas. This is mainly as a result of lack of focus in the business. An entrepreneur is supposed to have patience and be consistent in business expansion. The success of the business does not occur in a day but it depends on how the business personnel perseveres the uncertainties and risks that the business is exposed to. Customers also like to involve themselves with a business that is reliable and consistent (Nieuwenhuizen, 2009).

Therefore, lack of focus led to closure of the business.Second reason behind the closing down of the business is lack of trust on the individual skills which are required to run the business to greater heights. Successful entrepreneurs are goal oriented and have internal interest towards the tasks that they undertake (Nieuwenhuizen 2009, p. 9). Business has a varying results and it’s the mandate of the manager to know how to deal with the situations when they arise. Fear of failure is the reason behind the closure of the business as there was a mentality of personal failure in the future.

When managing a business that a person does not own a manager is shielded from losses as they go to the stockholders rather than the management (Nieuwenhuizen, 2009, p. 17).Business needs planning and forecasting for it to prosper. An individual entrepreneur who poorly plans for his/her business is likely to be attracted to other opportunities that make him lose focus towards the main goal of achieving success in running the business (Nieuwenhuizen, 2009, p. 9). This was the case as there was poor planning for the future which made you to lose focus when an enticing opportunity appeared.

ReferenceNieuwenhuizen C. 2009. Entrepreneurial Skills. Juta and Company Ltd.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Why did I closed down my business Personal Statement”, n.d.)
Why did I closed down my business Personal Statement. Retrieved from https://studentshare.org/business/1594720-why-did-i-closed-down-my-business
(Why Did I Closed down My Business Personal Statement)
Why Did I Closed down My Business Personal Statement. https://studentshare.org/business/1594720-why-did-i-closed-down-my-business.
“Why Did I Closed down My Business Personal Statement”, n.d. https://studentshare.org/business/1594720-why-did-i-closed-down-my-business.
  • Cited: 0 times

CHECK THESE SAMPLES OF Why did I closed down my business

Setting And Characters Of A Good Man Is Hard To Find

After trying to talk him down, the convict kills the grandmother and her family.... Finally, when the convict, The Misfit, is bearing down on the grandmother, though she is upset at the state of her family, as many of them have died at this point, the grandmother's sole concern is for herself.... Her self-centered attitude caused her family to wind up in the predicament that they did....
4 Pages (1000 words) Essay

Addressing Business Failure

Having been established in 1950, the company eventually closed down after 61 years of its operation in the automobile markets Cash flow problems are known to cause 70% of businesses to fail within their first year of establishment, making cash flow problems the major reason for business failure.... This paper "Addressing business Failure" focuses on the fact that business failure is “the occurrence where a business entity is forced to cease and close down its operations after it fails to generate enough cash to cover the expenses it incurs and thus fails to make any profits”....
6 Pages (1500 words) Essay

Causes of the Current Economic Meltdown

Economic recessions are a result of a decline in GDP growth, which is itself caused by a slowdown in manufacturing orders, falling housing prices and sales, and a drop-off in business investment.... 7 by that time, down 40% from its all-time high.... At the end of the same month, the market closed at 343- a 10% decline.... The markets closed at 230.... As more and more people panicked, there was a massive run to the banks to pull money out and some banks were not able to fulfill the requests for withdrawal and closed their doors....
9 Pages (2250 words) Term Paper

The Art of Closing any Deal

(Val Gee, 2007) Every business deems to be profitable.... An open-ended question demands a detailed answer from the prospect, whereas a closed-end question won't give you much insight into the mind of the customer.... This paper "The Art of Closing any Deal" presents a very important aspect of sales and marketing towards which all the marketing efforts are directed....
5 Pages (1250 words) Term Paper

Discussion 1 - Management''s Responsibility

However, in November 2013, Tesco had to shut down its business in the US and Fresh & Easy was sold to Yucaipa Companies.... Firstly, the business environment was risky because the timing of its new venture corresponded with the recession of 2007 when consumer spending had reduced drastically.... The business environment should be assessed to anticipate uncertainties so as to take the appropriate managerial action.... Failing to provide the customers with the right and timely services may result in closing down a business as a whole or few branches....
2 Pages (500 words) Coursework

The Impact and Ethics of Supermarket Expansion into Small Towns - Leominster

t is hypothesized that out-of-town supermarkets (especially Morrison's) have eaten away the business of traditional retail shops (by substantially reducing their sales and profit) in Leominster town centre, center resulted in shop closures and have therefore, contributed in unemployment because of these shop closures.... A survey will be conducted to see if supermarket have really had a negative impact over these businesses in Leominster and have forced them to shut-down their business centres....
34 Pages (8500 words) Research Paper

Open and Closed Economy Defined

This essay "Open and closed Economy Defined" has in mind explaining the differences between the two given examples of the economical systems.... closed economy is the type that does not trade with other nations (Wessels 2001).... Many macroeconomic models assume the economy is closed because it is easier to understand.... The ultimate goal for closed economy is to provide consumers with everything that they need within the county's borders....
6 Pages (1500 words) Essay

Chances and Risks of Closed-End Funds

The paper “Chances and Risks of closed-End Funds” looks at a closed-end fund, which collects a predetermined amount of fund through an Initial Public Offering from the capital market by issuing a fixed number of shares.... Outstanding shares of the closed-end fund remain fixed.... hellip; The author states that a closed-end fund needs to register with the Securities and Exchange Commission (SEC).... It continues to collect the fund as far as investors are ready to subscribe while for closed-end funds, it is simply a one-time affair to collect the funds through IPO that is kept open for a fixed duration of time....
12 Pages (3000 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us