Common things that make some business owners to fail?

[greenie]

Financing Hurdles. A primary reason why small businesses fail is a lack of funding or working capital.

Inadequate Management. Another common reason small businesses fail is a lack of business acumen on the part of the management team or business owner.

Ineffective Business Planning.

Marketing Mishaps.

 

[Kaffyfolla]

A bad location is self-explanatory if your business relies on location for foot traffic. Just as dangerous, however, is a poor Internet presence. These days, your location on the Internet and your social media strength can be just as important as your company's physical location in a shopping district. An online presence will let people know that they can give you their business, so if the need is already there, the availability and visibility of your business is the next important step.

 

[kayode10]

Lack of goal is one of the reason why some businesses fail. some business owners don't have because of where they are taking their company. You don't have direction and they do things anyhow. some of them are lazy just sitting back and expect profits to come without doing anything on their parts.

 

[Heatman]

Not delivering high quality services of products and taking customers for granted are some of the things that make the businesses fail.

Going overboard with your business plan is one of the mistake that some people make especially when the business is very new that they cannot be able to cope with a big challenge that they can not withstand.

 

[Oluwatobitomisin]

A lot of things make Business owners fails which many businesses fails to work on, what I feel is the major thing is that if you have no knowledge at all about a business you venture into definitely failure is not far from the owner

 

[tyrim88]

I have observed that some food sellers in my school's campus do not take hygiene as a high priority and this has caused many students to stop patronising them. This level of negligence is what makes it hard for them to make profits as they should.

What reasons make some businesses to fail?

There are many other reasons why businesses fail,not knowing and understanding the market and tertian very well, another is lack of planning and focus on things that aid business growth.poor financial record keeping are among some of the things that makes business to fail.

 

[Josephjossy]

Before I can buy anything that I will eat in the market, I will first look around the environment first, if the environment is dirty, I will never buy anything there. I will just work away. It is highly recommended for anybody selling foods stuffs to always sell in a clean environment

 

[Bookwormlux1]

Some businesses fail because the owners got into businesses and taught it was charity and they didn't take caution. This could be through lending out to people, especially those who ain't even patronizing you.

 

[Shigobad20201]

Lack of trust in yourself as an entrepreneurs thinking that you can't handle a situation always lead to failure and also getting scared to take risk in business also leads to failure.

 

[Sincerem]

There are many factors that can influence the overall success and failure of s business and some of this things the entrepreneur might have little or no control over them. But some with proper planning and strategies could be achieved and failure averted. This would include a good set out location for your business. Location is important to a business because that is where your intended consumers of your product are suitable bad location can lead to the failure of any business no matter the capital invested in it.

 

[Shigobad20201]

Some businesses fail because the owners got into businesses and taught it was charity and they didn't take caution. This could be through lending out to people, especially those who ain't even patronizing you.

Thats the reason why you must be strict when handling your business by not turning your business into a charity and people will keep saying you are stingy , just avoid them.

 

[Syldan]

Actually there are alot of reasons why business owners fail in operation sometimes it may depends on the management, in terms of capital usage, management control, business strategy etc which are not done as expected.

 

[Setho]

There are some people that think they are producing quality product but at the end of the day do not bother about their customers. This is not the right way to go because the customers are the most important aspect of the business and they should be treated as such.

 

[Shigobad20201]

Failing to plan a business from the start is a big failure from the start andnthats why as an enterpreneur, , you need proper business plan and research before starting a business.

 

[Sincerem]

A lot of people might consider location to be the most important thing, well in as much as this also contributes to business failures , but a lot of people are fund of establishing a business that is already on high competition. Most time managing this business to a successful stage is not always easy..

 

[Shigobad20201]

There are some people that think they are producing quality product but at the end of the day do not bother about their customers. This is not the right way to go because the customers are the most important aspect of the business and they should be treated as such.

Most of the business organization makes that mistakes always , and they thought their goods is the best in town , but all they lack is the customer care representatives to known the truth about their product from the customer.

 

[Immilash1]

Lack of adequate preparation, this the main subject that sends most businesses to their financial graves, if you don't have a plan then the business is definitely not for you.

 

[Shigobad20201]

Lack of goal is one of the reason why some businesses fail. some business owners don't have because of where they are taking their company. You don't have direction and they do things anyhow. some of them are lazy just sitting back and expect profits to come without doing anything on their parts.

The only reason why most of the entrepreneurs do business is to make money, though money is a motivational goal , but we need to have a specific and a particular goal .

 

[Hrtbeat]

The only reason why most of the entrepreneurs do business is to make money, though money is a motivational goal , but we need to have a specific and a particular goal .

There are a lot of reasons why a business can fail. One major reason is selling on credit to people. A serious business owner should not sell on credit to people no matter how close they are to him.

 

[Setho]

Some business owners are going to fail because they do not take customer feedback very well. The customers are the ones consuming the product so you are supposed to give them everything.