Common things that make some business owners to fail?

[Immilash1]

If you don't have a plan your business is going to fail, most businesses has failed because of this same reason,a lot of people are following the wrong way.

 

[Sotherefore]

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.

Well. For a newbie most times it is not easy for all these things to be done perfectly. Most especially as a new person going into a business except you have someone willing to guide you . If not tyen you are likely to make mistakes as you start the business you have no idea of.

 

[Good-Person]

Overconfidence is one of the main reasons why a business fails because you always thinks you knows it all, you don't like seeking the opinions of others before making decision.

I think that overconfidence is certainly a really bad thing and I think that one should be humble when it conducting business. Overconfidence will certainly casue many problems.

 

[Immilash1]

Well. For a newbie most times it is not easy for all these things to be done perfectly. Most especially as a new person going into a business except you have someone willing to guide you . If not tyen you are likely to make mistakes as you start the business you have no idea of.

If you are starting up something for the very first time just keep it on mind that you are going to make mistakes, this also part of learning, you need to bear that on mind.

 

[tray591]

Some people don't even know how to deal with customer,this are some of the things that makes people loss and cause business failure,how to handle invested capital also matters alot

 

[Sotherefore]

If you are starting up something for the very first time just keep it on mind that you are going to make mistakes, this also part of learning, you need to bear that on mind.

So what if I carry out the necessary research concerning what I am interested to do ? Such can limit most mistake to some extent. Mistakes comes in large quantities when you start something ignorantly.