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

[Sincerem]

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.

Yeah, that's why I stick to the adage that says 'No Hurry In Life. We shouldn't hurry too much in life, we should always dig deep to find the better plan for a particular business venture to avoid premature collapse.

 

[Immilash1]

Mismanagement. Many businesses have fade away because of mismanagement,Some people thinks all you need in business is money but that's not true.

 

[kayode10]

Conformity is one of the reason why people fail as the business prematurely. This is very common over here. Once people discover that you are successful with the business you set up. Soon you are going to see some people who are also setting up the business without knowing the nitty gritty of the business.

 

[eLdavis]

Conformity is one of the reason why people fail as the business prematurely. This is very common over here. Once people discover that you are successful with the business you set up. Soon you are going to see some people who are also setting up the business without knowing the nitty gritty of the business.

This is also common here as well, I think in my location it is even worse, they do not even wait to see you succeed, once they see you have started a particular business, they would rush into it as well just to compete with you, not cause they want to do the business. Have you come across such case?

 

[Ezekiel]

What makes people to fail mainly in business is in ability to accept mistakes, but most person are fast to accept defeat but refuses to accept mistakes that can be corrected

 

[Psalmseen]

Some businesses fail prematurely all because they lack passion for the business they chose to establish. Without passion, the business is failing even before starting at all. When you have passion, even during challenges, you'll push hard

 

[greenie]

Yeah, that's why I stick to the adage that says 'No Hurry In Life. We shouldn't hurry too much in life, we should always dig deep to find the better plan for a particular business venture to avoid premature collapse.

yes .. you have to do everything with your head, to have a plan ahead. you can't open a business and that's it, overnight you're rich ... otherwise we were all rich

 

[Sincerem]

yes .. you have to do everything with your head, to have a plan ahead. you can't open a business and that's it, overnight you're rich ... otherwise we were all rich

XD 😂. What you just said is the true fact. If business is that way, then it is believing that all could've been rich by now. But business isn't like that, lots of work is needed to make the big progress.

 

[Ghost1]

Lack of resources or financing, retention of a weak management team, poor infrastructure or business model and ineffective marketing strategies are the most common reasons for SMEs to fail. Small companies are most frequently left with a lack of capital or funding, retention of an insufficient management team, poor infrastructure or business model and unsuccessful marketing.

Poor financing is always the major factors. Most times they know what to do but they simply lack resources to carry out the plan.

 

[greenie]

XD 😂. What you just said is the true fact. If business is that way, then it is believing that all could've been rich by now. But business isn't like that, lots of work is needed to make the big progress.

you can be lucky and open something (offline speaking) where there is a populated area, they are looking for what you do and they have nowhere to buy / take your service from elsewhere.

 

[Good-Person]

I think there are several reasons why a business can fail. One of the biggest reasons is the fact that many employees do not take their jobs seriously and I think this is quite bad for both employee and the owner.

 

[Sincerem]

you can be lucky and open something (offline speaking) where there is a populated area, they are looking for what you do and they have nowhere to buy / take your service from elsewhere.

What you said is simply ideal. Since I'm dealing on demand they simply have no other option but to always patronize me, even though where I'm operating from, is very competitive.

 

[eLdavis]

I think there are several reasons why a business can fail. One of the biggest reasons is the fact that many employees do not take their jobs seriously and I think this is quite bad for both employee and the owner.

Do you think it might also be the fault of the owners as well? The employers have to also monitor the employees and watch how they carry out various activities, or what do you think?

 

[kayode10]

Some people focus on wrong things at the early stage of the business. they are after about making more money and often ignore some other important things in the business. People like this don't often pay attention to the cash flow of the business.

 

[Smiles20]

Failing in business can ultimately be as a result of so many other factors. There are some people who do not take out their time to plan their business. Some people also do not take the reviews of their customers very well in order to reposition their business.

 

[Skysaint]

There are just many factors that can lead to business failure and the one factor that I guess mostly affects new businesses is actually high competitive market especially by already well established businesses around

 

[Sotherefore]

Most times this is always as a result of lack of capital, this really prevent some people from making progress in their business which eventually leads to business stagnation and failure.

 

[Good-Person]

Do you think it might also be the fault of the owners as well? The employers have to also monitor the employees and watch how they carry out various activities, or what do you think?

No, I do not think that the owners are at fault in this case. However, if the owner does not monitor his or her business in a better way and let the employees do whatever they want, then this might be the owner's fault.

 

[tyrim88]

Some people fails in their business prematurely because they never acquired the right knowledge and they didn't planned well before starting a business
When you fail to lay down a business plan you're reliable to fail in your business
You lay down your business plan and follow it accordingly

That is definitely one aspect that most people usually fail in their business,they would just have that notion about profitability about a particular business and off,they are into it,without proper knowledge.

 

[Wiserr]

such business that fails so easily lacks plans. many people starts business without planning and they expect the business to be successful this leads to crashing down of businesses.