Why Businesses Really Fail

 

“Businesses fail not due to a lack of financial resources, but due to a lack of intellectual resources.”

When a business fails, the first person that tends to get blamed is the banker.

I’ve heard this far too often and I have to ask myself, “If the business was a good business with potential, then why would a bank not chose to support it?”

They wouldn’t support it if it wasn’t  good business. Now, does that mean the bank is bad or the business is bad?  Think about that question for a moment.

The title of this blog post is a quote I first came up with several years back when the economy was struggling.  Having recently spent time in several European countries where the economy is struggling, I was reminded of my quote and felt it needed a fresh discussion.

We can never overestimate the value of intellectual resources for any business regardless of its size.  In fact, we might argue the value of intellectual resources is even greater for a small business than it is for a large business.  The reason is the small business has less room for error.

What is the level of intellectual resources in your company?

Regardless of whether you work for a company or own your own company, it’s imperative to be continually pushing to increase the level of intellectual resources you have available.

It’s time to quit blaming the bankers, accept responsibility and realize the value intellectual capital plays in the business.

What are you doing on a regular basis to grow your organization’s intellectual capital? 

Unfortunately, I don’t see enough focus being placed on this critical need.  Stop and ask yourself this question.  Would Google, Apple, Samsung or Microsoft be as successful as they are today if they didn’t have an abundance of intellectual capital?

Failing to grow your intellectual resources will only increase the probability of your banker pulling your financial resources.

Copyright 2014, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.

Click on the below book cover for more info on boosting your profits!

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