Inadequate Knowledge (Low Business IQ):
6 years ago
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The entrepreneur on the path to failure won’t see the need to develop his/her business IQ because of the quest for money. Such an entrepreneur feel business is all about how much you can make. The fact that how much you can make is a function of how much you know and how much you can do is usually ignored. Thus, they forget that a business just like every other discipline require certain competencies (knowledge, skill and experience) in order to remain ;
So what do you eventually get? An entrepreneur who is dabbling his/her way through the ever dynamic world of business. In the end, failure becomes inevitable. Why? Because as an entrepreneur your ability to do is perpetually limited by what you know. In other words, you are the engine of your business.
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