What makes some people fail in their business start up prematurely??

[YERUS]

Its never easy driving a business towards it's potential height. Some people face challenges at some point, and couldn't continue on the right path towards their business goal attainment. And that led to their abrupt end, cos they couldn't resolve the challenges they faced during their early business start ups.

What are those challenges that hinders a business reaching its dream??

People experience premature business failure perhaps because of the following:
1. poor planning
2. No management skill
3. Poor customer service
4. inabilty to manage returns

 

[Good-Person]

The major reason why people fail in their business from the start is lack of planning and strategy. If as a new business owner the business owner doesn't have any strategy the business is as good as dead because a lot of competition are already in the market and lack of strategy can fail the business

Well, one of the reasons why many people fail is because they do not get proper advice and I have noticed that this is also one of the biggest reasons why people eventually fail or even fail when they start the business. You need to make sure you get the right advice from the right kind of people.

 

[Ezekiel]

I will say it is financial constraints that is the basic of them all,though some just want to compete without understanding the purpose of the business,some distraction and indiscipline

 

[Setho]

Businesses are going to be more likely to fail if they do not treat the customers as the most important part of a business. You should always have an excellent customer support system and also how to receive feedback.

 

[nimzy]

Some reasons why business fail even at the nursery stages depends either the business lack funds that's the finance of the business is very poor or it lack proper administration to be able to run the business effectively as it's expected to be done.

 

[Yhubee]

Maybe they did not plan well or they didnt have sufficient capital and were hoping they will get the money later which they couldn't get at the end.It could also be lack of business strategy

 

[Kaffyfolla]

Lack of proper planning cause the business to fail and apart from planning, locations plays an important roles in setting up a business

 

[Stnicholaz]

They simply wants to earn without taking courses from a business expert to learn how to manage a business and have ideas about the business for long time management.

Exactly, I know someone who started fish farming business and less than 6 months the business closed up. The mistake he made was not associating with other people that are into business. He thinks he knowledge of running a fish farm is enough.

 

[joy101]

Is not easy to grow a business people fail in business because not properly plan their business as normal, for one to succeed in a business you must prepare well.

 

[Kubiat-Abasi]

One of the reasons that make a startup business falls or go down the drain prematurely is because the owners failed to make a list of preference and probably their business plan was faulty!

 

[Skysaint]

Most times it's actually as a result of heavy competition and the inability to fight through it. Competition in a business is actually something to worry about for every business still in its infancy stage

 

[Toyoabasi]

Its never easy driving a business towards it's potential height. Some people face challenges at some point, and couldn't continue on the right path towards their business goal attainment. And that led to their abrupt end, cos they couldn't resolve the challenges they faced during their early business start ups.

What are those challenges that hinders a business reaching its dream??

Major challenges faced are dealing with competition, getting customers to stick to your brand, ability to reinvest.
Some of these challenges are attributed to poor planning at the beginning of the business.

 

[Laurentta]

Some business fail because of;
Inadequate fund to expand the business
Poor infrastructure
Improper planning
Lack of good stuffs/ workforces.

 

[Heatman]

Maybe due to lack of proper planning, poor time and money management and your business strategy . It could be as a result of strong competitors around that won't let your business thrive well and so many other factors included.

Most people make the mistake of thinking that business is something that you can jump into without proper and adequate preparation and they get to it and it hung them in a situation that they cannot be able to go forward or backward and they eventually loss all their investment in the business.

 

[Nsisong]

I will simply say mismanagement, pride, wrong attitude to clients and lack of a business plan, lack of accountability too. This things can lead a business to failure

 

[Godspower]

I think its because of lack of planning. Most entrepreneurs start a business without a good business plan and strategy to rely on in times of difficulty and this may cause the business to fold.

 

[Ghost1]

People fail in their business start because of ignorant of the business itself that tend to be their undoing by the time they fail it was something they couldn't cope with as a result of not having knowledge of what they are doing.

This is true. Sometimes they may have all the necessary fundings they need, but still end up failing because of poor planning. One must carry out research to know what he's doing and how to do it

 

[greenie]

Its never easy driving a business towards it's potential height. Some people face challenges at some point, and couldn't continue on the right path towards their business goal attainment. And that led to their abrupt end, cos they couldn't resolve the challenges they faced during their early business start ups.

What are those challenges that hinders a business reaching its dream??

many people go bankrupt because they are in a hurry with the elections and want to get rich overnight and do everything in a hurry, just for the sake of being done and they have huge expectations from the first month.

 

[kinqzbitz]

Well lack of money and also lack of business knowledge,before one goes into a business one has to gather information about that business and ask people who were in the business before them and learn from them

 

[Thinker009]

I think in business you have to have that form of determination,if your prior motive is improving the business in diverse ways,and this is what so many manger of business lacks today ,many find it hard managing business properly