Common Reasons of Business Failure

[Skysaint]

Sometimes I do see it as a neglect on the part of the business man in running his business affair and secondly is lack of strategy to outshine your competitors especially if they are really tough ones

 

[Bousine123]

Pretty concrete points you have given here my friend. But the one that stands out for me is the ability to study the Market. Without that, you will not be able to dominate it.

 

[Solutionav]

Unfortunately we can say that there are a lot of businesses today that goes to failure, it is because they lack factors that needs to be observed. Anyways let me provide you some common reasons of business failure.

a. They may not know how to win over clients
If a company doesn't know its clients well or treat them well, there is no point in improving lead generation. Winning customers over begins with knowing the preferences of consumers and tailoring goods to suit those desires and needs. Treating clients well begins when it comes to customer care by adopting best practices.

b. They don't know how leadership can be given.
With a bold vision, leadership is about inspiration and empowering the troops. It begins with developing partnerships by helping individuals inside the organization achieve their goals. Leadership is important; it is difficult to make good decisions or take successful actions without it. Leadership influences every part of an organization, from how workers function productively to how they manage operations.

c. They don't know how to market themselves.
Marketing does not begin by learning how to use tactics for advertisement and promotion. It begins with the differentiation of products. All its marketing efforts would be wasted unless a company can explicitly state why its product is different from others similar to it in the marketplace or come up with a specific value proposition.

I am very much sure that any of these reasons are correct, and how about you? Please let me know your thoughts on the comment section.

Business is not easy to start up sometime you need to be patient and be focus to be able to achieve the best when it comes to business and sometime tolerating your customers is very important

 

[Yusuf1]

The common reason for business failure is lack of marketable skills. If as a business person you lack the skills to market your goods and services to a wide range of audience you will definitely find it hard to succeed with the business

 

[Setho]

A lot of businesses usually fail because they do not put so much priority to their customers satisfaction. This is very important for any business to move forward

 

[Sotherefore]

Whenever there is a business failure, it could be as a result of certain unforeseen circumstances in business and most times it could be as a result of carelessness of the business owner.

 

[Dowenship]

Unfortunately we can say that there are a lot of businesses today that goes to failure, it is because they lack factors that needs to be observed. Anyways let me provide you some common reasons of business failure.

a. They may not know how to win over clients
If a company doesn't know its clients well or treat them well, there is no point in improving lead generation. Winning customers over begins with knowing the preferences of consumers and tailoring goods to suit those desires and needs. Treating clients well begins when it comes to customer care by adopting best practices.

b. They don't know how leadership can be given.
With a bold vision, leadership is about inspiration and empowering the troops. It begins with developing partnerships by helping individuals inside the organization achieve their goals. Leadership is important; it is difficult to make good decisions or take successful actions without it. Leadership influences every part of an organization, from how workers function productively to how they manage operations.

c. They don't know how to market themselves.
Marketing does not begin by learning how to use tactics for advertisement and promotion. It begins with the differentiation of products. All its marketing efforts would be wasted unless a company can explicitly state why its product is different from others similar to it in the marketplace or come up with a specific value proposition.

I am very much sure that any of these reasons are correct, and how about you? Please let me know your thoughts on the comment section.

You enlisted just the peripheral common reasons of business failing... If a business does not know how to market themselves but planned to market the product through a marketer as the business fail.

 

[Kubiat-Abasi]

I would say; lack of capital, selling on credit to customers, poor network location, incurring unnecessary debt and inability to be transparent with customers.

 

[Samknowis]

Your points are valid. One's relationship with his/her customers matters a lot in business. The way you treat your clients will determine if they'll come back or not,so learn to build a good relationship with them.

 

[Immilash]

Unfortunately we can say that there are a lot of businesses today that goes to failure, it is because they lack factors that needs to be observed. Anyways let me provide you some common reasons of business failure.

a. They may not know how to win over clients
If a company doesn't know its clients well or treat them well, there is no point in improving lead generation. Winning customers over begins with knowing the preferences of consumers and tailoring goods to suit those desires and needs. Treating clients well begins when it comes to customer care by adopting best practices.

b. They don't know how leadership can be given.
With a bold vision, leadership is about inspiration and empowering the troops. It begins with developing partnerships by helping individuals inside the organization achieve their goals. Leadership is important; it is difficult to make good decisions or take successful actions without it. Leadership influences every part of an organization, from how workers function productively to how they manage operations.

c. They don't know how to market themselves.
Marketing does not begin by learning how to use tactics for advertisement and promotion. It begins with the differentiation of products. All its marketing efforts would be wasted unless a company can explicitly state why its product is different from others similar to it in the marketplace or come up with a specific value proposition.

I am very much sure that any of these reasons are correct, and how about you? Please let me know your thoughts on the comment section.

yes that's true but before i proceed let me put something straight ,if you fail in everything you do it means to are lacking some thing which you have to bring it in .i believe when you fixed everything you wont fail for that same thing

 

[Sotherefore]

No matter the reason for that we should always try as much as possible to protect our business from failing because it is not really easy to start up a business then talkless of allowing me business to fall because of a careless mistake.

 

[Kubiat-Abasi]

The common mistakes of business failure ranges from; nonchalancy to the job, not paying attention to customers satisfaction, irregular payment of workers and too much of debt.

 

[Senator]

Poor communication skills in convincing your clients and maybe the attitude too you adopt In approaching your clients keeps making you to lose customers and so doing leads to your business failing

 

[Tislad]

Some business owners don't know how to go about their business all they know is they have the money yo start a business and at the end the business falls.

 

[Stnicholaz]

Unfortunately we can say that there are a lot of businesses today that goes to failure, it is because they lack factors that needs to be observed. Anyways let me provide you some common reasons of business failure.

a. They may not know how to win over clients
If a company doesn't know its clients well or treat them well, there is no point in improving lead generation. Winning customers over begins with knowing the preferences of consumers and tailoring goods to suit those desires and needs. Treating clients well begins when it comes to customer care by adopting best practices.

b. They don't know how leadership can be given.
With a bold vision, leadership is about inspiration and empowering the troops. It begins with developing partnerships by helping individuals inside the organization achieve their goals. Leadership is important; it is difficult to make good decisions or take successful actions without it. Leadership influences every part of an organization, from how workers function productively to how they manage operations.

c. They don't know how to market themselves.
Marketing does not begin by learning how to use tactics for advertisement and promotion. It begins with the differentiation of products. All its marketing efforts would be wasted unless a company can explicitly state why its product is different from others similar to it in the marketplace or come up with a specific value proposition.

I am very much sure that any of these reasons are correct, and how about you? Please let me know your thoughts on the comment section.

You are spot on. Other reason include lack of consistency, lack of good business plan and poor customer service like you said.

The major reason is lack of proper knowledge and skills to run the business. I mean learning from someone who is experienced in that business or intern in an established business before starting.

 

[Seno inyang]

The common reasons for business failure is lack of capital and lack of proper communication and orientation on the very type of business that one wishes to venture into.

 

[Nass1]

Absolutely sometimes it's really bad wasting your time and energy about a business instead of gaining profit at the ends of the business, it will change to failure which is very unbearable in mind, this sometimes makes people to give up once they confronted with such kind of things.

 

[eLdavis]

Some business owners don't know how to go about their business all they know is they have the money yo start a business and at the end the business falls.

That is true, cause they have the money, they rush into the business without having any proper knowledge of the business and they end up making decisions that would bring losses to the themselves.

 

[Nass1]

Honestly speaking there's alot of business nowadays that leads to failure as results of many reasons and also when the products is not selling in the market, sometimes demand schedule, how to produce, for whom to produce are you really sure the market itself is going well with them.

 

[Ralphjoe]

Unfortunately we can say that there are a lot of businesses today that goes to failure, it is because they lack factors that needs to be observed. Anyways let me provide you some common reasons of business failure.

a. They may not know how to win over clients
If a company doesn't know its clients well or treat them well, there is no point in improving lead generation. Winning customers over begins with knowing the preferences of consumers and tailoring goods to suit those desires and needs. Treating clients well begins when it comes to customer care by adopting best practices.

b. They don't know how leadership can be given.
With a bold vision, leadership is about inspiration and empowering the troops. It begins with developing partnerships by helping individuals inside the organization achieve their goals. Leadership is important; it is difficult to make good decisions or take successful actions without it. Leadership influences every part of an organization, from how workers function productively to how they manage operations.

c. They don't know how to market themselves.
Marketing does not begin by learning how to use tactics for advertisement and promotion. It begins with the differentiation of products. All its marketing efforts would be wasted unless a company can explicitly state why its product is different from others similar to it in the marketplace or come up with a specific value proposition.

I am very much sure that any of these reasons are correct, and how about you? Please let me know your thoughts on the comment section.

I think you are right when you say that most organisations do not know how leadership can be given in fact most organisations do not know how to identify a good leader so therefore they end up making the wrong choice of a leader which will drive the business or organisation down.