Common reason of business failure

[Kane]

One of the common reasons of business failure is trying to sell the same product that someone is already selling, or selling on niche that is heavily saturated. You need to come up with something unique.

 

[Ehizzy1]

Their is ways to take the business higher than the information quoted by the poster. We just have to start gradually, think wisely, be creative, and make something eye catching in your business someone haven't done before.

A lot of people actually love to rush the process not knowing that life is a step by step something , you make huge loss and also make huge profit ,you should also know when to increase your business pursuit and many more

 

[Ojonuyo]

You are right, running a business is not for the weak. Because the going can get tougher along the way and only the strong and creative individual get to push their business ahead. Just like the case study of covid-19 pandemic that shut down so many business.

 

[Ehizzy1]

You are right, running a business is not for the weak. Because the going can get tougher along the way and only the strong and creative individual get to push their business ahead. Just like the case study of covid-19 pandemic that shut down so many business.

Running a business have never been for the weak , its the strong ones that put all their energy in the business and maje sure it succeeds and they make more money too

 

[Sincerem]

A lot of people actually love to rush the process not knowing that life is a step by step something , you make huge loss and also make huge profit ,you should also know when to increase your business pursuit and many more

You're right. Life is just that, make losses and gains. Today might be one's time to record gigantic gains, then tomorrow will be great loss. We should just be ready for this when it comes to investment. But never give up in our quest to taste greatness.

 

[Eodine]

Yeah, the first factor that can really affect a business especially a start up is fund or capital. Money is the bloodline of business, and so starting a business requires a lot of money sometimes way more than the owners expect.

 

[Shigobad20201]

Money is the first reason for common business failure because if you don't have enough fund to support the business when you needed it, the business can crash on the long run, the second reason is if you lack discipline and poor management skills on how to manage a business and your employee, it can also cause business failure.

 

[Sincerem]

Yeah, the first factor that can really affect a business especially a start up is fund or capital. Money is the bloodline of business, and so starting a business requires a lot of money sometimes way more than the owners expect.

We should aim for better business plans, have surplus of plans. Incase one fails, and falls short, we can continue with another to drive our business forward. Plans goes together with funds.

 

[Mandypaul]

Common reason for business failure depends on the management and also they capital u use in starting up the business,for the business to keep moving u neee a good management and maintenance, advertising your business also help to grow,also lack of customers, sometimes the business owner contribute to the failure of his or her business depending on how you treat or patronize your customers

 

[Ifective]

Lack of a good business plan is the major factor why business fails. People fail to acquire knowledge about a business before venturing into it. They just acquire money and dive into it. Customers are not prioritized, locations of business are not strategic due to failed business plan

 

[Adventurer]

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

Very true! Research shows that 70% of small businesses fail within the first year of operation and the most common reason is finances!

 

[Good-Person]

Not everyone can run the business. There is a lot of risk ivolved. The common reason of failure of any busines is:-

1) Lack of planning.

2) Not implementing the right decision at the right time.

3) Other factors like business location, profitability, etc were not considered.

4) Employees were not managed correctly.

5) Business owner never knew what he was doing in the first place. In other words, he invested money in business that was not profitable to begin with.

 

[Eodine]

We should aim for better business plans, have surplus of plans. Incase one fails, and falls short, we can continue with another to drive our business forward. Plans goes together with funds.

Proper planning prevents poor performance, that is an old adage that is still very relevant in our society. Planning should be a daily activity for people who wish to achieve success.

 

[Sincerem]

Common reason for business failure depends on the management and also they capital u use in starting up the business,for the business to keep moving u neee a good management and maintenance, advertising your business also help to grow,also lack of customers, sometimes the business owner contribute to the failure of his or her business depending on how you treat or patronize your customers

Good management of the business helps it to keep going. When we manage the funds wisely, invest wisely, and develop more strategies to help manage the business long time.

 

[Kane]

Wrong decisions can also cause business failure. If the business owner or the manager takes the wrong decision, the business can fail. However, this can be easily avoided by discussing before taking the decision.

 

[Samuel77]

There are many common reasons for business failure one of the most common reason is unseriousness in business, and also not giving your business much time can make you fail in your business

 

[Abbeyola]

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.

The reason why most businesses fail, is lack of satisfaction from the client or customers also not being consistent in delivery of products and services. Also, the staff laxity may as well contribute to it failure. My own opinion though.

 

[Ehizzy1]

One of the main reason business fails is poor management and low finding ,most business needs this to actually keep up with the rate of competition and move forward

 

[McIrx]

People jump into business without analyzing their target market. That has ruined lots of business. Starting a dry cleaning business in an area dominated by the basement dwellers of the social pyramid will kill the business. Those around are only concerned about their next meal, not some clean, expertly ironed clothes.

 

[Kelly5]

You want to see yourself rocking it all the way up all the time in your business endeavour? Then put in the time and effort that everything worth success requires