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The Most Common Failures in Entrepreneurship Ventures

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In fact, an entrepreneur should develop a publicity logo pertaining to his entrepreneurial activity or just about his company (which should be benefit-focused). Also, one should always carry business cards and interact with people when he is out. This way, one will be able to get business deals or opportunities by talking with people, especially at social or public events. As a manager or part of the management of the business, a person should focus his efforts in coming up with ways or mechanisms of maximizing profits of the business. One should also consider alternative tools for marketing, including direct mail (which is much targeted), direct e-mail, e-newsletters, a web site (which can take the place of a printed brochure) and public relations.

Although it is not essential to develop a campaign for advertising, it is essential to do a marketing activity related to that (Dollinger 24). Lack of Mentorship and Lack of ExperienceA mentor or mentors are very essential in the management since they help in identifying pitfalls and confirming certain setbacks that the management may encounter if it continues doing what it's doing.

Mentors are invaluable assets that must be sleeked in the management body decision making, for one to succeed in business. These mentors bring in their experience, which goes a long way in helping to also deal with the fear related to the failure. This is because entrepreneurship and fear of failure go together. In entrepreneurship, one has to be acutely aware of the fact that the business stands a chance of failing, and therefore as an entrepreneur, one should not be afraid of failure and if one is, then he should be ready to be employed.

In entrepreneurship, if one is risk aversive, then he/she should stay away from the business. In most readings about entrepreneurs who have been successful, it’ s evident that a great number of them have had their drawbacks: either businesses that did not work well for them or business strategies that did to materialize, but this did not deter them from trying again (Dollinger 28).

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