Setting up a new business venture and ensuring its success in a highly competitive business environment is not an easy task. The task becomes even more difficult in a rapidly growing economy such as China, where new businesses and ventures are mushrooming at an exceptional rate. Sadly, only a handful of these new ventures are able to survive the challenges within their specific niche, while a majority of them fail to survive over a long period of time. According to the professionals offering services of board advisory in China, the various business development mistakes are the biggest reasons behind the failure of business ventures. Discussed below are the most common of these mistakes that can lead to the downfall of even the most professional establishments.
• Being Excessively Boastful
• Covering Up Bad News
• Networking Without Proper Strategy
• Trust The Clients To Analyze The Business Independently
• Never Share The Credit For Success
