A lot of companies have committed mistakes in running a business. Companies both small and big fail all the time, only in the USA alone there are thousands of failed business ventures. The smaller businesses failing you don’t hear about very frequently, unless it’s a small local company in your community.
Here are some mistakes in running a business that numerous individuals know about, there has been several bigger businesses that have failed miserably which are not in this list as well. This list is merely composed of 5 firms that stand out and nearly all these are several types of businesses, from on-line companies to large corporate banks. A number of these failed due to greed, and one was simply bad company, or instead only a scam. Pets.com was an excellent idea, but they failed miserably since they tried to grow way too quickly. Lots of businesses through the years have made the same error and it ended up placing them in a hole they were adhered digging out of, or, like Pets.com is completely failed and there is no way out.
The main problem Pets.com had was growing too fast as mentioned above briefly, but going into greater detail will help you see why it had been a failure. The business grossly over extended by opening national networks of warehouses right out from the starting gate. Due to their advertisements they built up a great brand, and several people knew about them, but what they were providing wasn’t actually something customers were into, so sales were terrible which is what killed the business gains. The businesses inventory had been at $11 in the first quarter of 2000 also after that dropped down to $0.19 by Nov of 2000 and that went the company shut down.
At one time SwissAir had been the national airline of Switzerland plus they used to be so economically secure and the airline company was frequently called the flying bank. Swissair started up in 1931 and became one of the top international airlines in the world for over sixty years. At the late 90’s the company made some major problems with their investment management and it started going down-hill from there. Once the terrorist attacks happened on 9/11 the gambles they had made with their money management really took a huge hit on Swissair and they were overwhelmed with debt. Bad management and bad ideas through the 90’s took their cost and in 2002 the company went below to good.
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