Common reason of business failure

[Shigobad20201]

Everything you do in this life is a risk, living a life itself is a big risk, so running a business is also a risk. It is left for you to decide if you will take the risk. Don't be afraid of taking a risk, don't be afraid to fail. Just take the risk

Most people or let me say enterpreneur find it difficult to take a risk because they are actually scared of loosing their money , and if you cabt take risk in business , then you are bound to fail.

 

[tyrim88]

There are various reason why some busineses fail,when the owner did not properlly do a thorough research about the market and understand the terrian very well it could be a huddle.And then lack of capacity for financial management.

 

[Shigobad20201]

Another reason why most business fails is that most business man/ enterpreneur started their business with loan which usually affect the business negatively and cause harm to the business.

 

[Sincerem]

People needs to understand that when they are not able to manage the affairs of their business then the possibility of business failure will increases. As a business owner. Management should always be the most important.

 

[joy101]

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.

That is true, the reason why business fail sometimes is lack of planning can bring failure to your business, that's why is really good to understand the kind of business you really want to do before going into such business.

 

[Psalmseen]

Starting a business may seem easy but maintaining it is not that easy. There are lots of reasons that may lead to business failure. Lack of consistency is a factor. You must be consistent in your doings. Even if things ain't working fine

 

[Setho]

The reason why a lot of people usually fail in their businesses because they do not like to use the latest technology even if it is going to make the work easier and faster.

 

[Robust]

To start running a business is not easy, but it is a thing of determination, focus and goal. So some people fail in business because they are either lacking financially or there location make them to fail.

 

[Psalmseen]

There are lots of reasons that can cause failure in business. One of these is poor planning and poor business plan. As I do say, business plan is the soul of a business..you really need to work out your plans well and be consistent with it

 

[Shigobad20201]

Though we have many reasons why business fails , but lack of proper preparation is the main reason for all the problems , we failed to have a business plan to secure and solve the problem the business might have in the future.

 

[Chibson]

any business venture that is not properly planned will probably not succeed on the long run. Some people when they want to venture into a business they will not plan properly and on the long run they will probably not succeed.

 

[Godspower]

any business venture that is not properly planned will probably not succeed on the long run. Some people when they want to venture into a business they will not plan properly and on the long run they will probably not succeed.

This is very true. Any business without a good business strategy will struggle to develop. Also, it will be difficult to promote a business without effective marketing and networking.

 

[Chibson]

This is very true. Any business without a good business strategy will struggle to develop. Also, it will be difficult to promote a business without effective marketing and networking.

Definitely, any businessman must try as much as possible to be strategical in order to promote the business effectively. You can also market it using different social media platforms.

 

[glitch]

I think the most common reason a business fails is down to poor planning. I know a lot of people will point to money but money is part of planning. If you do not have a good road map for your goals, a budget, and ideas then you will go nowhere fast.

 

[Godspower]

Definitely, any businessman must try as much as possible to be strategical in order to promote the business effectively. You can also market it using different social media platforms.

Most business owners do not really know this. They only open their shops or business premises every morning and expect to make sales without actually trying out different methods of attracting new customers.

 

[Chibson]

Most business owners do not really know this. They only open their shops or business premises every morning and expect to make sales without actually trying out different methods of attracting new customers.

That does not work most times. you need to have a very good strategy in which you will use to be attracted customers in order to beat your competitors. You need to understand that business is not all about buying and selling only.

 

[Good-Person]

One of the reasons why many businesses fail is due to the fact that circumstances surrounding the business might not be good. For example, many businesses collapsed during the pandemic.

 

[joy101]

The major reason most of the business fail is because the managers and all the managing department of that particular company may not know they are guilty and as a result there is other conflicts in one way or the other and this can cause business failure. Conflict is always the main issue

For me I can say that the reason why some people fail sometimes in business is lack of planning because without being planned well before going into business, one can never make it that is why is encouraging to make a good planning.

 

[Good-Person]

For me, starting a business can be a very challenging and stressful task. Keeping the business going and turning it into success is even harder. In spite of all the courses, books, business schools, entrepreneur coaches out there

Well, honestly speaking I am always afraid of starting a business because I am scared of suffering from losses. I do not have any idea about any particular business. However, I am a cryptocurrency trader.

 

[Godspower]

Well, honestly speaking I am always afraid of starting a business because I am scared of suffering from losses. I do not have any idea about any particular business. However, I am a cryptocurrency trader.

Well, it's a good thing you have discovered your weakness. I am just surprised that as a crypto trader, you are still yet to overcome your fear of wrong investment.