Common things that make some business owners to fail?

[joy101]

The common things that can make business owner fall in a business it is can be lack of planning, because starting of a business without proper planning it can bring the business down.

 

[Bookwormlux]

People would rather start a business and fail than to spend time learning the basics that would help them make profits as they should ordinarily do. It is pathetic.

 

[Delight]

employing dishonest and negative people into your business is one of the greatest mistake you will ever do as a business man or woman because this set of people are the one that will cause your business to fail, you really need to watch out as a businessman.

 

[Bookwormlux]

employing dishonest and negative people into your business is one of the greatest mistake you will ever do as a business man or woman because this set of people are the one that will cause your business to fail, you really need to watch out as a businessman.

That is the most unfortunate thing that can ever happen to a business owner and it won't end well for such person as the business would crumble in no distant time.

 

[Delight]

That is the most unfortunate thing that can ever happen to a business owner and it won't end well for such person as the business would crumble in no distant time.

Seriously because they will bring bad image to your business organisation,sometimes you may not be aware but people that are coming in to do business with you will understand what is going on, do you have any experience of this before ?

 

[Ralphjoe]

A lot of factors if a business person do not take out his time to mitigate can cause his business to fail.Lack of vision on where you want the business to go and how to contain and come up with a better competitive strategy.A good customer aqusition strategy.And good financial management skill is also another.

I totally agree with you that a lack of vision on where you want your business to be is able to stop a business from succeeding in the future.

 

[Bookwormlux]

Seriously because they will bring bad image to your business organisation,sometimes you may not be aware but people that are coming in to do business with you will understand what is going on, do you have any experience of this before ?

We have seen so many dishonest people who go about collecting money from innocent unsuspecting customers in the name of the company and it affects the company really bad.

 

[TopSilver]

Not advertising enough is a huge reason why some businesses fail. No one ever hears about them because their funding goes to product and lack of exposure. Also not enough locations is even bigger. Some mom and pop restaurants have failed due to Covid-19 and because there weren't enough locations for them to make profit, they had to go out of business. Just some examples.

 

[Bookwormlux]

Not advertising enough is a huge reason why some businesses fail. No one ever hears about them because their funding goes to product and lack of exposure. Also not enough locations is even bigger. Some mom and pop restaurants have failed due to Covid-19 and because there weren't enough locations for them to make profit, they had to go out of business. Just some examples.

I agree with you on this. I have seen so many businesses where the owner do not care about advertising their services at all and it is so pathetic that they do not care.

 

[Robust]

There are some business owners that fail because of lack of planning well, while some fail because the lack taking correction and proper communication.

 

[Setfragil]

There are some business owners that fail because of lack of planning well, while some fail because the lack taking correction and proper communication.

When you do not plan your business very well, there is high tendency for it to fail. Planning helps you to know how to control, organize, and manage all other business activities smoothly without issues.

 

[eLdavis]

and the money they lose could have been enough for them to learn what is required for them to succeed in the business and will still have something remaining,when they are losing in the business they will lose all the money they have invested.

This is the problem many people face today, they see learning as a waste of time and its not needed or they feel the money they would have paid to learn can be used for something else because they can always learn it themselves.

 

[Jlife]

This is the problem many people face today, they see learning as a waste of time and its not needed or they feel the money they would have paid to learn can be used for something else because they can always learn it themselves.

Lolz, and when they go into something they do not have an understanding about, they will lose so much money and at the end of the day they will still come and learn it, does it really make sense ? atleast learning is the most important thing to avoid lose.

 

[Lordfalcao]

Well some common factors or things that could make a business or company owner to fair in his endeavors to the company could be poor management ignorance and many More.

 

[babdud02]

There are so many things that make business to fail but not having proper hygiene is something that’s affecting most small business.Even people that are not neat in their house will still want to buy stuff from shop that’s clean

 

[skyliequiz]

Because they don't know how difficult it is and therefore quit up too quickly. (Being an entrepreneur is the toughest thing I've ever done, but it's worth it) and they believe in "overnight success." (Stop scrolling through other people's Instagram accounts. It takes a long time to become an overnight success.)

 

[eLdavis]

Lolz, and when they go into something they do not have an understanding about, they will lose so much money and at the end of the day they will still come and learn it, does it really make sense ? atleast learning is the most important thing to avoid lose.

Exactly, and learning saves you time and stress of going to relearn again when you are supposed to be focused on the business. And it would also save you the experience of going through hugh losses.

 

[Josemendez]

Because they don't know how difficult it is and therefore quit up too quickly. (Being an entrepreneur is the toughest thing I've ever done, but it's worth it) and they believe in "overnight success." (Stop scrolling through other people's Instagram accounts. It takes a long time to become an overnight success.)

You have said it all . It is not easy for one to achieve such height easily but most of them do not understand that , they want to make it big without much stress .

 

[Jlife]

Exactly, and learning saves you time and stress of going to relearn again when you are supposed to be focused on the business. And it would also save you the experience of going through hugh losses.

Ok what if i am qualified academically with a degree in my hand ,do you think that I still need to go and learn about the type of business I am going into before I succeed , with university degree I do not see the need to learn.

 

[Chibson]

One of the major things that makes a lot of business owners to fail is lack of visionary business plan. Any business plan that is not visionary will fail on the long run.