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

[Ltherman]

I think each start up will encounter its own unique difficult situation it maybe cash crunch or it maybe a leadership problem. Sometimes its usually not as a result of the business itself. I have seen situation external factors affects the business. A situation where policies of government affects an industry everyone operating within that industry will have to bear the brunt.

 

[Setho]

Entrepreneurship on a normal is very difficult and you have to put that extra bit of care to ensure you always come out top or maximise your chances. Many startups fail primarily due to not doing a lot of research about the market and continue with it to beat off competitors. It is ideal you don't go into business because other people are successful are in it. Others is because they actually weren't being able do gather the required capital to increase or withstand a particular storm.

 

[Hdre3m3n]

The major reason why people fail in their business are du to the following reasons:
Businesses nowadays don't wait till their business becomes bug but have the mind and aim of spending money from it and this will surely make the business rundown and this will cause failure.

 

[Diamond07]

Businesses fail from start-up if there is bad planning and strategy. Poor financing management is another factor that can cause a business to fail at start-up. This is why it is important to include the business's goals and Financing management in a business plan

 

[Diddi01]

One of the things that make people fail at their business prematurely is when they are not ready. When you are well readied or a business, the business should only be slow but not fail just at the beginning. Being ignorant of the ways of business is also one of ways to fail prematurely. One should take time to learn and be ready before venturing in to any business of any kind.

 

[Ifective]

Most people are not ready to start up a business. They go into business because if peer pressure as they do not even have any idea as to what the business entails. It is important that one has a good and deep knowledge about the business he wants to go into.
Also, without a good business plan, many people will end up folding up their business prematurely

 

[Neeta313]

When you dont plan properly, you will surely fail in a business, some people don't even sit down and analyze what the want to venture into, they feel because every other person is doing business, they will also start. That is not the case. The truth is business is not for everybody, if you dont prepare and seek advice as well, you might not turn out successful.

 

[Ziki]

Some people create businesses and they hate their clients and they own their own job. That's not what I'm talking about. You literally can create a business where you get to choose your clients, choose when you work, choose where you work and choose how much you charge for what you do.

 

[Onachukwu]

Businesses can fail as a result of wars, recessions, high taxation, high interest rates, excessive regulations, poor management decisions, insufficient marketing, inability to compete with other similar businesses, or a lack of interest from the public in the business's offerings.

 

[Profuk57]

I think one of the reason why people fail in their business prematurely can be linked
to the ability of the owner of the business one of such reason can be poor management skill It can also be technical know-how of the operation of the business.

 

[EMMANUEL]

Lack of experience is one of the causes of business failure. If you are inexperienced or your management is made up of novices, then your business is as good as dead. When starting a new business, it is advised you get the services of people experienced in that field. They can be your partners or your employee. Get experienced marketers and well-trained customer service personnel.

 

[Josemendez]

I think one of the major reason is lack of proper planning and execution . It is one thing to have a business idea or plan ,it is another thing to develop the business idea into something very productive .
I think one need to first work towards having his business plan executed on the proper way .

 

[Genius]

The very first thing that hinders a business from blossoming is not having a veritable business plan. Every business must first be planned and objectives must be clearly highlighted. Also, the capital is another factor. Lack of resources and necessary technological devices are other impediments.

 

[singlej007]

Most of the business that failed are traced to lack of experience, a lot of person start gathering capital for a business they have no experience about, they only got interested because someone told them the business is good, they never thought of the business challenges.

 

[Patrik]

i believe that's because starting or launching the business in the wrong time without studying the market and how it works, or launching a business when it's not even close to be completed

 

[solomonmali]

businesses succeed as much as they fail. I’ve seen this time and again as a mentor and entrepreneur. But statistics also suggest that the failure rate for new startups within the first five years is as high as 50 percent.
Of course, real entrepreneurs treat business failure as a milestone on the road to success. They count on learning from their mistakes, and use the experience to move to the next idea. But why not learn from the mistakes of others, without all the pain and suffering?

 

[Tinaconcept]

I always say it, as a business owner be it a big business or a small business if the owner fail to plan he or she plans to fail. I talk about planning because that is the number on thing needed for a business that will survive. Then the risk management.

 

[Fortunate]

An incredibly common problem that causes startups to fail is a weak ... There are early indications of the business starting to ramp.

 

[iCesarkevin]

The most common reasons small business fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.

 

[Gilead]

In my opinion the major reason why a business fails at the beginning of start-up is bad feasibility study and lack of quality business plan. Without these two factors, such business will fail unfortunately.