Common things that make some business owners to fail?

[Justin]

I think the main reasons of business failure is trying to be a copy cat instead of working on original concepts. If you try to sell the same product that others are also selling, you are doomed.

 

[Ayokex]

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?

Most of businesses fail as a result of the owners careless attitude towards addressing some of the issue happening in the business. Some of them are too busy to listen to the customers complaints and do something about it. Business doesn't fail immediately, it's a gradual process.

 

[Bookwormlux1]

Most of businesses fail as a result of the owners careless attitude towards addressing some of the issue happening in the business. Some of them are too busy to listen to the customers complaints and do something about it. Business doesn't fail immediately, it's a gradual process.

I agree with you. A shop owner who failed to listen to customers complain in my area is currently struggling as many have deserted his shop already.

 

[Setfragil]

A lot of people fail in business because they lack the basic knowledge and understanding of how the business works. Some people fail because of financial situation of the business.

I am totally in support of your point. So many people venture into business without having the basic knowledge of what the business is all about, when you do such the business will likely suffer or fail.

 

[Sotherefore]

One of the major mistakes business owners make is not employing the right people. Employing the right people can make your business successful.

That is one of the most important factors you have said, I agree with you,I also believe that another thing that can cause business failure is when the owner of the business lack the basic understanding of how to smoothly operate the business he has established.

 

[eLdavis]

most of the common things that makes some business to field is not having good customer care and also not able to satisfy the needs of their customer.

This is another important aspect many fail to handle properly. Customers are what makes up a business, therefore it us expected that each customer should be treated with care. Some business has little to no customer care system

 

[Haveit]

You know, it's one of the things about monopolistic market, because the food vendors feel that students have no choice then they start to misbehave but consumers always find a way to get better options.

The monopoly environment is also a reason why some business do not grow as the market does not provide for new start ups that may prove to be competition.

 

[Josemendez]

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?

Just as you have pointed out. Negligence, Wrong attitude towards customer , and many other factors which should be in place but are wanting are parts of the things that leads to business failure.

 

[akinlolu99]

I have seen that some food dealers in my school's grounds don't accept cleanliness as a high need and this has made numerous understudies quit belittling them. This degree of carelessness is the thing that makes it difficult for them to make benefits as they ought to.

What reasons make a few organizations to fizzle?

 

[Jlife]

Lack of proper management is one of the things that makes some business to fail,without a proper business management it might be difficult for the business to see success, not getting an idea of the business you are about to start properly is another thing.

 

[Richard92]

A lot of factors if a business person do not take out his time to mitigate can cause his business to fail.Lack of vision on where you want the business to go and how to contain and come up with a better competitive strategy.A good customer aqusition strategy.And good financial management skill is also another.

One thing I will make you to feel as a business man is not planning before starting a particular business or not knowing about the business before you invest in it this are some common things that make business men fail in their business.

 

[tyrim88]

One thing I will make you to feel as a business man is not planning before starting a particular business or not knowing about the business before you invest in it this are some common things that make business men fail in their business.

That is true,but there are some things you will only learn while you are on the filed, when i started my business,i had some basic knowledge,but as time progreses the things i then come to know about more details was due to experience on the job.

 

[eLdavis]

That is true,but there are some things you will only learn while you are on the filed, when i started my business,i had some basic knowledge,but as time progreses the things i then come to know about more details was due to experience on the job.

Very true, knowledge gotten from theory are totally different from knowledge gotten from practical. On the field, you would be able to get a live experience of how it all happens and a better understanding on how to handle it.

 

[Bookwormlux1]

Lack of proper management is one of the things that makes some business to fail,without a proper business management it might be difficult for the business to see success, not getting an idea of the business you are about to start properly is another thing.

That is more like gambling. Imagine trying to make money from a business, but you are not willing to learn the rudiments of the said business. This would lead to massive failure in the business.

 

[eLdavis]

That is more like gambling. Imagine trying to make money from a business, but you are not willing to learn the rudiments of the said business. This would lead to massive failure in the business.

Exactly, this is why so many businesses fail. They just rush into it, without trying to understand how the business works and they expect to make profit from it. Some even feel learning is a waste of time, the time they would use in learning can be used in making money

 

[Setfragil]

Very true, knowledge gotten from theory are totally different from knowledge gotten from practical. On the field, you would be able to get a live experience of how it all happens and a better understanding on how to handle it.

That is the reason those people that learn business performs better than a lot of graduates that studied business in the university. Practical knowledge is by far more of an experience than theory studied in pages of books.

 

[Jlife]

That is more like gambling. Imagine trying to make money from a business, but you are not willing to learn the rudiments of the said business. This would lead to massive failure in the business.

Lolz,the reason why people do not go to learning about the type of business they are going in to is because they just believe that they have enough money to start a business and that the money will make the business to move perfectly ,which is not true.

 

[Psalmseen]

There are many reasons that can make a business to fail. Reasons like negligence, not taking integrity to heart. Because when people see you as person of integrity, they will want to deal more with you and this will definitely keep the business growing

 

[Bookwormlux1]

Lolz,the reason why people do not go to learning about the type of business they are going in to is because they just believe that they have enough money to start a business and that the money will make the business to move perfectly ,which is not true.

Yeah, before they get to realize how much learning would have helped, it may have been too late as they may have lost so much money which is not easy to recover it.

 

[Jlife]

Yeah, before they get to realize how much learning would have helped, it may have been too late as they may have lost so much money which is not easy to recover it.

and the money they lose could have been enough for them to learn what is required for them to succeed in the business and will still have something remaining,when they are losing in the business they will lose all the money they have invested.