Jointly we can tackle a major global problem of the 21st century. One of theses global problems is the major socio-economic challenges worldwide is the combined one of “have-nots”: unemployment, inequality and poverty. One of the most successful ways to tackle these problems is through job creation.
And one of the most effective ways around these global problem is to create jobs – according to research – is by growing the self-employed sector or by stimulating entrepreneurship. As many as eight out of 10 small businesses will not be around in five years’ time.
Research gives many reasons why entrepreneurial businesses have such a high failure rate. These reasons include:
- Insufficient finance
- marketing problems
- staff related challenges
- poor communication
- lack of innovation
- inadequate planning
- production issues and many more.
The reasons themselves seem fixable. But in many cases, these are, in fact, not the root causes of failure; they are symptoms of deeper, more fundamental problems. The real question that must be addressed is why do these issues occur in these owner-run entrepreneurial businesses?
Often, the causes of these global problems and the subsequent failure can be traced back to the entrepreneur. He/she is the main driver of the business and therefore also the Achilles heel of it: a shortcoming here affects the entire business.The main reasons for failure may be:
- The entrepreneur’s lack of business knowledge.
- Lack of self-knowledge#Unable to integrate business challenges with personal and social issues.
Any effort to help the entrepreneur succeed in business should therefore first determine and then address the real cause of the problem, be it due to a lack of business knowledge or a shortage of self-knowledge or a social issues.
These underlying causes (or combination of causes) of business failure are unique to each individual. So it’s important to identify the real combination of factors that are the cause of the problems and focus on solving them. It is for this reason that, to offer practical and effective solutions, the emphasis of myelearning.education is on a process. Not a quick fix. Not some magic formula. But a process.
During this process, or journey to success, we put innovative technology to work. We first analyse the real, underlying cause or need of the individual entrepreneur and then develop a uniquely curated program of learning resources to solve his/her problems.