Common things that make some business owners to fail?

[Danny4cash]

There are many reasons and you have mention one of them. However, the major mistake that most business owner make that lead to the downfall of their business is having a regard for customers. Business is for the owner but for customers. In a business, you're directly or indirectly solving the problem of customers. So, it's not ideal to be doing the business the way you want, rather you do it the way the customers want.

 

[Sincerem]

The main purpose for which a business was established was to generate profit but that doesn't mean that you have to be greedy . This may also be another reason why so many business are not succeeding.

 

[frederick_9]

One of the primary causes of business failure is starting a business without the necessary financial support.
Due to a lack of solid financial support, I once had a business that failed.
Even though I really wanted to, I was unable to add more money.

 

[Agbalagbaa]

The first thing that makes most business individuals to fail is lack of having a proper plan, if you don't know how to plan you'll not get the good results you've always wanted.

 

[Shigobad20201]

In my own opinion , its good to have the way in which you are running your business but you must be able to satisfy your customers because they are your priority .

There are many reasons and you have mention one of them. However, the major mistake that most business owner make that lead to the downfall of their business is having a regard for customers. Business is for the owner but for customers. In a business, you're directly or indirectly solving the problem of customers. So, it's not ideal to be doing the business the way you want, rather you do it the way the customers want

 

[nana kwasi1]

inadequate knowledge of the enterprise being planned. Government policies and political instability can both have a significant impact on the performance of the firm, as can a lack of finance, which could also offer a big obstacle to the overall growth and expansion of the company.

 

[Shigobad20201]

inadequate knowledge of the enterprise being planned. Government policies and political instability can both have a significant impact on the performance of the firm, as can a lack of finance, which could also offer a big obstacle to the overall growth and expansion of the company.

You need to have a proper knowledge about the business you are trying to start before jumping into that kind of business , and you actually need a good business plan.

 

[Nadiel sahmen]

Lack of focus when company is just slightly down is, in my opinion, one of the numerous factors that cause businesses to fail.

 

[Setho]

One of the things that a lot of business owners do not consider is the little things and this is something that cannot really be overemphasized. You have to ensure that you have good hygiene and you have a very conducive environment.

 

[Joseph555]

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?

 

[Shigobad20201]

Having a good hygiene and maintaining a clean environment for your business I very important, most especially when you are running a eatery or a canteen business , because people don't like visiting and buying from dirty places .

One of the things that a lot of business owners do not consider is the little things and this is something that cannot really be overemphasized. You have to ensure that you have good hygiene and you have a very conducive environment.

 

[Immilash1]

If you are not planning your business there's no way you can succeed, a lot of people have failed because of this same reason, having a business plan will help you a lot.

 

[Eli342]

The necessity of attracting intelligent investors, a savvy management team, and a savvy board of directors insulates venture entrepreneurs from making mistakes. Nevertheless, errors do occur, most frequently of the "where did that train come from?" kind.

 

[Immilash1]

The necessity of attracting intelligent investors, a savvy management team, and a savvy board of directors insulates venture entrepreneurs from making mistakes. Nevertheless, errors do occur, most frequently of the "where did that train come from?" kind.

Mistakes are something we can't escape from, if you are good at doing that you are expected to learn a lesson from it, mistakes helps us to succeed.

 

[Imran_Noori]

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?

Mostly big companies and businesses collapse because the owners give up soon and have no patience but this is not the way, big companies didn't make it in one night.

 

[Sotherefore]

So many reasons for business failure is complain dependent on the type of business, including the location for which the business is situated. It could be as a result of higher competition , lack of proper and good marketing strategy or as simple as carelessness

 

[Shigobad20201]

Failing to make the proper research and business plan fore going into any business is the reason why many business fails , and some people normally go into business through jealousy

 

[Sincerem]

Sometimes business owners do not always get the required information about the area of business they are starting, they are not always prepared for challenge that is likely to occur in the areas of business they are doing and when all these things comes, it might leads to business failure.

 

[Sotherefore]

There are many reasons why so many businesses are not succeeding but most importantly sometimes it is always as a result of improper business management. Being a weak manager is exactly like not having a manager in business at all.

 

[Genie011]

One of the Common reasons business owners fail is that they usually assume that the results would just manifest without taking time. This mindset makes them to give up in the middle of challenges.