As a business person. Do you take time to study why other businesses closed down?

[King Belieal]

Many business people always want to study the secrets of the successful businesses around them. It is only very few people that study the businesses that failed around them. Do you study failed businesses to understand why they failed?

 

[Trush Jodie]

The failure of other businesses should be a huge case study for other businesses that are still surviving.

 

[eLdavis]

Yes i do this sometimes but unfortunately not all the time. I try to find out what they did wrong, and how i van avoid the same mistake.

 

[Augusta]

Yes it is always good to try to find out what sinks the others boats so that you can avoid them.and make a success of your own

 

[King Belieal]

I even study failed businesses more than I study successful businesses. I find the experiences of failed businesses very valuable to streamlining my business against failure.

 

[Kross]

A good business person should study businesses wholly including the failed ones to learn from. It is what proactive business persons do.

 

[gwolf666]

I am not a businessman, but if I were, I would clearly do it. You have to learn from the mistakes of others; it is essential. If you do not analyze the competition, you can make the same mistakes, and that will clearly be very harmful to your company. You could end up losing it and going bankrupt if you do not analyze every detail and every move.

 

[Stardom22]

It's very great thing for businessmen to know what causes other business to thrive so that they can learn as we know that knowledge is power.

 

[Fidelia]

Businesses fail sue to many reasons. Some is due to lack of consistency, others is as a result of quality. Most of the businesses that fail is also due to mismanagement.

 

[Augusta]

Entrepreneurial exits and firm closures, including both failures and voluntary closures, should be studied by new business owners

 

[Bigshow]

First you cannot venture into business without studying it and go around see how other competitors do,a business person must always study business for updates and upgrades