Common reason of business failure

[Marissa]

Recently, a research revealed that 80% of new businesses fails and there are lot of reasons to the causes of failures. Some business fails because of lack of adequate knowledge on how to effectively run a business. Also high level of competition is also another cause of business failures. However, Financial mismanagement is the most causes of business breakdown.

 

[Koredsman]

There are several things that caise business failure. When you don't trust yourself, you cannot trust your workers, when you are greed and stingy, you only know yourself, your business can't go.
You will find it difficult to listen to other peoples ideas

 

[Bart Simpson]

One of the main reason of beginning a company is not learning enough about the places you are exploring before moving into them. You may have a fully comprehending of the subject, but in order to involve others to guide you, you must grasp a half bake of the matter. but if you don't want to struggle why don't you start to benefit from a lot of experience.

 

[Tariq Nazir]

There are several things that caise business failure. When you don't trust yourself, you cannot trust your workers, when you are greed and stingy, you only know yourself, your business can't go.
You will find it difficult to listen to other peoples ideas.

 

[muhammad ahad]

Running a business is not for the faint of heart; entrepreneurship is inherently risky. Successful business onwers must possess the ability to mitigate company-specific risks while simultaneously bringing a product service to market at a price point that meets consumer demand levels.

Well, the loss in any business is when the person does not work patiently. Be it a business, be it a physical business or an online business, every human being should work with patience. For example, I am trading cricket. I have noticed that on a day when I do not have patience, I gain less. That is why I am increasing the patience within myself for my success.

 

[Aramide]

When a business fails, then we go back to the foundation which is the business plan, unorganized business plan will result to failing of a business, and also check your ability in the business if you do not have much knowledge about the business, that can also lead to business failure.

 

[Chibson]

There are numerous reasons why businesses fail. starting from lack of proper planning and research before embarking on a business journey through lack of financial backup and enough capital. if no proper research is carried out before a business is started there is no way the business will succeed.

 

[solomonmali]

Lack of planning is when you ignore the value of planning and don’t bother to learn the methodology of planning. A good plan should include both short- and long-term goals as well as a way to measure goals and results. It should also have clear to-do lists, benchmarks, and milestones.

 

[Kingking]

*When You don't know to Win Customers To Yourself.

It's as simple as it sounds. When you don't know how to win customer to yourself, the business will suffer greatly. The relationship between yourself and the customer is very important and cannot be taken for granted. To keep customers, you'd need to understand their needs at every now and then.

 

[Kane]

Mismanagement and high running costs are some of the common reasons of business failure . I am stating these two reasons because my brick and mortar businesses failed due to these two reasons. If you can spot these two early on, you can avoid business failure l.

 

[Zevin]

Lack of knowledge and patience may also contribute to business failure. In order to do business, you need knowledge on various topics. You need to not only know about the business you are doing but also other things like marketing, product development, etc. Impatience also kills a business. You will have to work for years before you can succeed.

 

[Oluwole]

Many business failed due to they fail to plan for their business. Before opening a new business one need to study the business very well, where to sell and who will be buy the product or what you into.

 

[Kunkun]

An essential motivation behind why independent ventures fall flat is an absence of financing or working capital. In many occurrences an entrepreneur is personally mindful of how much cash is expected to keep tasks running on an everyday premise, including subsidizing finance; paying fixed and differed overhead costs, for example, lease and utilities; and guaranteeing that external sellers are paid on schedule.

 

[oluwaseun tope]

These are the common reason of business failure firstly lack of concentration secondly lack of determination thirdly lack of focus forth living extravagant life the last but not the least spending lavishly.

 

[Funufidelis]

The most common reasons small businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

 

[Donolatunji]

A lack of capital or funding, the retention of an inadequate management team, a defective infrastructure or business model, and unsuccessful marketing initiatives are the most common reasons that small businesses fail.
A lack of self-respect and self-worth is bad self-esteem. Instead of creating the person they want to be, people with low self-confidence are continually trying to find themselves.

 

[Apollo]

The common cause of business failure is due to poor management . other factors include lack of capital, laziness of employees.

 

[Aniwhyte]

There are countless numbers of reasons why people fail in their business, one good reason is procrastination another reason is lack of capital to back it up this is one of the major reason why people fail in their business, I won't forget to mention not being focused and determined the list is just endless.

 

[KENDRA2020]

Business fails for so many reasons one of the most common reason on Gods green earth is cos most people go into it without the adequate knowledge of it. They feel its that easy without taking time to study it.

 

[Dowenship]

Any business that fails should be traced back to the founder or owner of the business! Probably his financial capability as crumble.
Quote of the day
Stay focused: don't be distracted with worldly activities, it will stray you out of course of destiny: always stay focused