Common things that make some business owners to fail?

[Heatman]

When it comes to doing business online or offline we should always be careful with funds, we shouldn't mismanage the business funs, rather save more and invest when necessary.

Seriously, when you have a very good dream for your new business that has been set up, it's very important that you have other sources of making huge expenses.

 

[GIFTMICHAEL]

Seriously, when you have a very good dream for your new business that has been set up, it's very important that you have other sources of making huge expenses.

You know when it comes to business at first time start, it comes with expenses as well. Their are others we spend first before reaping from it.

 

[Sotherefore]

Good understanding of the business before starting is the first thing for every business success because you will be able to manage your business properly ,without good understanding hiring people to manage your business for you will lead to business failure.

 

[God's Own]

It's much and the level of negligence of some people is making them to fall out of the business skills, some people lack consistency, personal hygiene, zeal and a mindset for the business.

 

[Hena101]

The common thing that make business owners to failed is venturing into any opportunity around without counting the cost of venturing into it, just because one do it and success does not mean anybody can succeed.

 

[Setho]

I have observed that one of the biggest reasons why people fail in their business is because the do not attach strong priority to customers and as such deleuze out.

 

[Dasarrick001]

One of the major reason that people feel is lack of plan, when you fail to plan for something you tend to feel so it's better to plan and succeed than fail to plan.

If I'm going into a business today I must have an idea I must have a plan and her plan will lead me to success so this are the basic things one need to have before thinking of anything else.
Okay I want to start a provision store what are the requirement what and what am I going to do when I have those ideas and plan I will just work towards it and it will take me to perfection that is just it.

 

[kayode10]

Another reason is the lack of technical expertise on the owners. Some business can set up a business for their website but they don't know how to set up a payment gateway to receive orders.

 

[Alexandoy]

The common thing that make business owners to failed is venturing into any opportunity around without counting the cost of venturing into it, just because one do it and success does not mean anybody can succeed.

Maybe what you mean to say is the lack of knowledge in the business can make you fail. I can agree with that because for a new business to succeed you need to have full information on the operation and other details of the business including not only the customers but also the suppliers.

 

[skyliequiz]

They have no idea how to gain customers' trust. It's pointless to improve lead generation if a company doesn't know or serve its consumers well. Understanding consumer preferences and customizing products to fit their goals and requirements is the first step in winning them over.

 

[Razor1911]

They have no idea how to gain customers' trust. It's pointless to improve lead generation if a company doesn't know or serve its consumers well. Understanding consumer preferences and customizing products to fit their goals and requirements is the first step in winning them over.

You have a valid point. even if you generate lots of lead but you can't hold onto your customer, then there is no point as these are temporary. we should work to make our customers happy and permanent by providing good facilities.

 

[Senator]

Some business owners lack decorum in their business dealings with their clients. They are very very unfriendly and nonchalant to clients needs or dispositions most of the time. These are very bad habits

 

[Razor1911]

Some business owners lack decorum in their business dealings with their clients. They are very very unfriendly and nonchalant to clients needs or dispositions most of the time. These are very bad habits

Well, everyone may not have every quality. That is Why business is not for everyone. To be able to sustain and grow in the business, we need to have certain qualities to take decisio promptly according to the market situation, having such quality will help to sustain here.

 

[delnovem]

Lack of proper planning can make a business owner. Negligence of red flag the market is bring to you. You need to be a good listener and fast learner in other to do according.

 

[Razor1911]

Lack of proper planning can make a business owner. Negligence of red flag the market is bring to you. You need to be a good listener and fast learner in other to do according.

This is the initial stage when we study out the planning. Also planning is as important as to execute it properly. In most cases, having proper plan does not always help in getting expected result, perfect execution is also necessary.

 

[Yusuf1]

As I have seen it, it is not only in food selling. It also happens in other sectors as you see some business owners not handling their business the way it should be handled and it is very sad because at some point they will lose customers

 

[Good-Person]

There are so many reasons that make business to fail and one of them that i think is lack of focus when business just go down a little.

I can relate to the point you made. Focus is very important and along with proper focus, you need to have a really good mind set and you must also make sure you make good plans in order to carry out your business. Proper planning is as crucial as proper funding when it comes to business!

 

[Blessingedidiong]

Different businesses fail for different reasons and among them are; lack of financial management,improper management,poor services to customers which makes customers stop patronising the business. Poor planning could also make a business fail.

 

[Good-Person]

Businesses fail for different reasons, you are giving the example of a case of lack of hygiene, if we talk about restaurants or food sales that is one of the reasons, also the lack of a good plate of food, with good condiments and taste to the palate. Another very good reason is the lack of financial management.

You do make a good point. In my country the issue of hygiene does not matter at all. I live in a Tier 3 country and here people do not pay any attention to hygiene issues. However, hygine issue is taken seriously in many Tier 1 country and this is what I noted.

 

[Ebro01]

The rise and fall of a business, it involve a lot of things like spending lavishly, spending from your capital and to much of generousity. Taking out money from the business without returning it back to the account of the business