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

[Dapoyemi]

Some people fall in the early hour of their business because, some of them don't study the type of business they want to do before embarking on it. Also, some don't do market survey of the particular business they want to do, capital is also part of it, they might not have enough capital to put into the business. Some don't earmarked business money aside , they mingle everything together thereby causing total wreckage of the business.

 

[btaliat]

Many people fail in their business because they lack passion for the job they are doing. This pent make them put much effort in the job. But when you love what you do, you will put much energy on it and will be determined to take the business higher than

 

[Aotosyno]

Lack of business orientation is one major factor that kills a new business,most people don't get training on that particular business before venturing into it.Also lack of discipline we spend money meant for business for our selfish reason, instead of putting the money back also we tend to favour family and friends by not selling the products/services at the real price we dash them or collect stipend for it.

 

[Adebayonle7]

When a new business fails prematurely, it might be due to so many reasons and factors. The most likely ones might be improper planning. Although many people have business plans mapped out perfectly in their heads and are just anxious to begin with it but fail almost in no time that they began. Another thing might be excessive spending. Many don't know understand the difference when their business has turned cash flow positive and when it's not. They just dive in and begin spending mostly on personal interests.

 

[Sotherefore]

I think the reason this is happening is because there are some people that goes into a business just for the sake of making profit but they do not have a deep understanding about how that particular business work I think this is the cause of business failure.

 

[Segshowee]

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??

Lack of requisite knowledge before venturing into business. Lack of financial discipline and perseverance. All these and other factors contribute greatly to business failure.

 

[Mave24]

My advice is that you should have proper knowledge before going to start a business. You must also have a backup plan whenever things get bad and you should always think positive so that whenever you fail, you think of it as a lesson and to strive for success.

 

[Eyiteepraise]

One of the reason most of the business fail prematurely are due to the following reasons:
Most of the business usually spend from their business capital and this will surely make the business fail prematurely.
Also when a business has involve itself in overtaking then it is liable to fail.

 

[Abu4exel]

Some people fail in their business start up due to inadequate capital nor lack of more business idea or. Some people start their business on making enough profit at early stage of their business thereby waving aside good customer relations and satisfaction. Also, little rivalry could derail some people from their business because such a person doesn't have an idea to push forward.

 

[Klismannm12]

People should know that starting a business fires want to be patient for the form that you fill today business does not mean that you must continue to fit of the business to his guest and no take take your time and look for somewhere else that you can be getting your source of income from why you grow your business.

 

[Chumzy]

Businesses failing is a normal thing that happens almost everyday. They say 9 of every 10 new businesses are likely to fail. This is no doubt because we think we found a solution to a problem until we start.

 

[eLdavis]

there could be different reasons, most are lack of proper business planning, it could also be misuse of funds to run the business. the location of your business also matters alot too. the wrong location could affect your business growth

 

[maventiger]

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

@Nurudeen the funny thing is that over 50% of failed businesses have plans and strategy in place but those plans and strategy aren't feasible. Whenever a business plan is not feasible execution becomes impossible and failure becomes imminent.

 

[Folaham]

Businesses failing is a normal thing that happens almost everyday. They say 9 of every 10 new businesses are likely to fail. This is no doubt because we think we found a solution to a problem until we start.

As many fails because of financial mismanagement, ineffective business planning, inadequate management and marketing mishaps. in all of these, poor knowledge of the business is a sure path to failure

 

[Draysongz]

There are various reasons why business fails. some of them are lack of discipline, most business owners aren't disciplined when it comes to business affairs. another reason might be lack of good customer relation.

 

[Oyeleye42]

Lack of planning – Businesses fail because of the lack of short-term and long-term planning. Your plan should include where your business will be in the next few months to the next few years. Include measurable goals and results. The right plan will include specific to-do lists with dates and deadlines. Failure to plan will damage your business

 

[chicnthin]

It could be due to lack of capital funds. A lot of start-ups has rather use their capital inefficiently. It could also be because they don't have a strategic plan and management. And in some cases, they did not survive the competition.

 

[Sariana23]

I believe that the main challenge faced by entrepreneurs is the financial mismanagement of their business. When they begin to receive profits, they cannot separate the expenses of the company with the personal ones and lose the total balance of this. For this reason the financial part loses its objectives and succumbs to failure.

 

[Bilal0087]

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??

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??

I believe that whenever a person go for a business without proper planning and strategies he will fail in his goals, because every type of business have problems and difficulties to be tackle wisely for success.
And unprepared person without any planning can't handle the problems to keep running business well.

 

[Adesuwa]

Some peoples fails in their business due to the fact that they don't know to retain customers.
In business retaining of customer is very vital you have to know how you will relate with you customer by going through selection and price.
by bring down some prices for them.