Is lack of FOCUS the reason most Startup fail?

[Chumzy]

I don't think that is close to being the truth because businesses fail. Sometimes you put in all your focus and attention and yet still get it wrong. Running a business is not an easy task and most times you need more than focus.

 

[Eamodu]

Having studied how over 60% of startups failed, I noticed series of trends that eventually lead to their early closure. The one that baffled me the most is the major impact it has in early closure on some promising businesses.

What other things could lead to early closure of Newly established businesses?

To me I won't say its lack of focus. It's more of lack of understanding and how to execute the ideas they have on the start-up business. Sometimes funds could be a barrier too. This is as a result of doing a proper home work on the money part of the business to keep it running.

Post automatically merged: Feb 5, 2021

Having studied how over 60% of startups failed, I noticed series of trends that eventually lead to their early closure. The one that baffled me the most is the major impact it has in early closure on some promising businesses.

What other things could lead to early closure of Newly established businesses?

To me I won't say its lack of focus. It's more of lack of understanding and how to execute the ideas they have on the start-up business. Sometimes funds could be a barrier too. This is as a result of doing a proper home work on the money part of the business to keep it running.

 

[abubakar3141]

Surprisingly, the most common reasons why funded entrepreneurs failed were money-related issues, with a combined 40 percent citing going bankrupt or a lack of resources as a reason for failure.

 

[Tollytee]

Yes...lack of focus is the reason why so many business... Its very important to be focused in what you are doing. You dont need to look at what other are doing because they are making money....

 

[Folaham]

Focus they say is staying on a particular course until it ia finished. So, focus alone is not the reason why a start business cam fail, the purpose might have been misplaced, the principles that is guiding the business might have been brigded, the client might have missed the track record of the business, so the CEO mist troubleshoot and not be myopic about the cause of the failure of the business

You are very correct to note that lack/lost of focus alone is not enough but many other factors combined together makes a business to fail. And can be attributed to Inexperience management which a combination of experience, knowledge and vision to run the business

 

[AmirSohail]

Of course, starting any work and taking it to new heights requires attention.This can be a failure, especially if you do not pay close attention to it. And as a result, all human efforts can be in vain.

 

[Joseph555]

Anybody that is not focused in life should forget about business because will not succeed in business no matter how you try it will be a failure so instead of failing woefully,
The said person if you enter anything else I will make him have money apart from business they can even partner with somebody.

 

[Hasan Raza]

Yeah! Of course any business you are doing demands attention, time and focus. With all this if you want to save your business from failure then work with dedication. The dealing with consumers is also play an important role in success and failure of the business.

 

[Hamza]

Most of the startup fails because lack of experience and knowledge. Many people start their business without any knowledge about it and at the end it cause their business to fail.

 

[Obasuyi Charles]

Starting a business require proper focus if the business own want to achieve his or her goal. For a business that has a target or a limited time, attention should be given to it to avoid failure or opposit of what was planned.

 

[Henrywrites]

Having studied how over 60% of startups failed, I noticed series of trends that eventually lead to their early closure. The one that baffled me the most is the major impact it has in early closure on some promising businesses.

What other things could lead to early closure of Newly established businesses?

Lack of focus could be one of the reasons most businesses fail, but it is not the major reason. Poor planning from the start can make most businesses struggle from the start as the business owner will be having stress and confusion overtime which is not great for the business growth.

 

[Emma Aneni]

It is definitely one of the reasons, starting a business is not easy, there is no room for being complacent, one has to be very focus and determined because you are at the early stage of the businessman, which requires a lot of dedication.

 

[Chibson]

There are numerous reasons why new businesses fail. Any business that lacks ideas and bright minds is likely not survive. Any business that is not well funded is also likely to fail.
Before one ventures into any business, he should be financially stable and have the idea of what business entails.

 

[Tinaconcept]

Capital can also be the reason for a business failure not just fund for starting the business but funds for running of the business is need. Though lack of focus can also cause a business failure but I don't think its the only factor causing business failure. Risk management is there too

 

[Peppul]

Well for startup businesses to fold up, most times it's either the owner does not have full idea about the business he or she is going into, the economy we live today slot of people are trying and looking for way to come out of poverty, so you see many people trying to save a lot just to startup a business, and after saving you see many without having ideas of business they want to go, goes into businesses other people are doing because they see the business is profitable, this inturn leads to business fold up after a while because they don't have the capacity to manage such business. And another is if there is no appropriate funding for a business it might also lead to business fold up too.

 

[DareIsrael]

It is not a good reason why a business should close up. Most business that close happens because of unforeseen event or occurrence. Or a competition came in to town and won the heart of the public.

 

[idhans]

Having studied how over 60% of startups failed, I noticed series of trends that eventually lead to their early closure. The one that baffled me the most is the major impact it has in early closure on some promising businesses.

What other things could lead to early closure of Newly established businesses?

lack of focus is just one of the factors that makes a big businesses crumble. Some people seem to lose focus quickly whenever the encounter difficulties in their businesses. if you have a good business plan and you will never be deterred during hard times.

 

[oluwaseun tope]

Yes I can say lack of focus is one of the reasons why business fail, for you to set up a new business you need to monitor it very well , you have to focus on the business so that it will not foldup and the person will not be at loss

 

[Seun4luv]

Lack of market demand. The startup fail when they do not solve an existing market problem. Insufficient funds. Disharmony in the team. Worry about competition. Expensive pricing. Ignoring customers' needs. Lack of a business model and Poor marketing.

 

[Taimoor Jutt]

Yes this can be a big reason for failing of business at start-up. But there can be more reasons, like lack of capital, small investments, or low sale, bad views or bad feedback also part of a group which can be downfall for some business. But you can overcome this by good management skills, proper concentration.