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Why do businesses fail?
How to make your
business future safe
Rachit Ahuja
CEO, Quick Dry Cleaning Software
Presented at:
National Convention of Dry-cleaners & Launderers
Why do businesses
fail?
1.
Failure to clearly
define & understand
• Market
• Customers
• Customer’s buying behavior
2.
Failure to anticipate
& react to changes in
• Technology
• Competition
• Others
A few victims of failure to change
A few victims of failure to change
3.
Failure to price your
service correctly
4.
Owners trying to be
Superman
5.
Gut based decision
making
How to make your business
future safe
Know your Customer
Answer these questions
• Who are they
• What do they like?
• What resources do they have?
time/money
• What do they look for?
Quality/price
• Regular or one off
• Online/Offline
• How do they pay
1.
Be aware to changes
• Evolving Customer
• Technological Advancement
2.
Price ain’t merely about numbers. It's
a satisfying sacrifice
- Toba Beta, Master of Stupidity
Price your service smartly
3.
ValueCost
Price your service smartly
3.
Price your service smartly
While pricing, keep in mind
• Customer’s paying capacity - Financial & emotional
• Your price should include
• Input cost
• Real estate opportunity cost
• Owner cost
• Logistics cost
• Overheads
• Depreciation of machinery and other inputs
• Services other than your core services
• Brand positioning
3.
Be a coach, not a
superman
4.
Data informed
decision making
• Identify
the most important matrices
• Track
regularly
• Improvise
continually
5.
Want to make your business future safe?
It starts with you
Thanks!
If you want to know more about
making your business future safe
You can find me at:
rachit@quickdrycleaning.com

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QDC - How to make your business future safe