No company is too big to fail or too small to succeed.
A company’s lifecycle has been reduced lately. The number of new companies that last just a few years has increased.
Between the years 1973 and 1983, 35% of the 1.000 worldwide biggest companies were newly created.
From 1993 to 2003, there was a 60 % of new companies.
About 70% of the 1.000 most successful companies went bankrupt between 2003 and 2013.
50% of the companies will close after the first year of their existence.
Big companies that went bankrupt:
Kodak: Year 2012
American Airlines: Year 2011
Hummer: Year 2010
Pontiac: Year 2009
Life Magazine (printed edition): Year 2007
Compaq: Year 2002
So as not to have the same misfortune, you must avoid following the tips from the Bad Businessman’s Manual:
Don’t be too generous with your employees in order to avoid their taking profit from your generosity.
Don’t get too close to your employees; you should keep the professional relationships above all.
Don’t speak too much in order to show off or to give advice that nobody asks for. People may consider you presumptuous.
Even if your Company is doing well, do not spend all your money. You must have a saved amount of money just in case businesses are going slow.
True talent cost money. You must pay more to your employees if you want the quality of their work to be the best.
Take profit of the chances that may appear to promote yourself. Get your company advertised in blogs, magazines and newspapers so as people get to know your brand mark.
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