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

[Kunkun]

Failing in a new business can be attributed to many reasons, mostly being financial reasons to proper management skills, also inadequate knowledge in that field could also cause for failure too

 

[Akinwale701]

I think the reason why most of these people do not get proper orientation about the business that they want to start it because they do feel that most of this business are quite easy to run because they say most people run these businesses successfully but one thing they fail to realise is that there are steps and information that one needs to have to be able to run a successful business.

You have a point brother. Many people always think it's easy to run a business. The truth is, entrepreneurship takes much more time, stress and energy compared to other areas of employment sometimes.

 

[Setho]

There are actually a lot of reasons why people fail in their business. One thing I have observed in many business is that they do not make their decisions research based.

 

[Setfragil]

When a business is poorly funded and not well studied to know how to plan it to be successful, such business will surely fails prematurely within months of establishing it.

 

[joy101]

What make some people fail in their business because lack of planning because going into business you have to plan it well before going into it.

 

[Ralphjoe]

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

I think the most reasons why most small business start-ups fail is mostly because of lack of capital or funds to run the business as most small businesses normally startup because they have a problem of lack of funds.

 

[Funky]

There are many reasons why a business startup may fail, one major reason is because of lack of proper planning for funds, for the production process etc

 

[tyrim88]

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??

The challanges that can hinder a business from moving forward are numerous.Some could be as a result of not doing a proper research about the business terrian properly.Another is not understanding the market and the nature of the prospective customer in that niche.And also lack of accounting discipline as well as no good strategy on how to get and retain customers in the business.

Post automatically merged: Jul 27, 2021

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??

The challanges that can hinder a business from moving forward are numerous.Some could be as a result of not doing a proper research about the business terrian properly.Another is not understanding the market and the nature of the prospective customer in that niche.And also lack of accounting discipline as well as no good strategy on how to get and retain customers in the business.

 

[Sotherefore]

There are many reasons why a business startup may fail, one major reason is because of lack of proper planning for funds, for the production process etc

What of location ? I always consider location as the main determinants of a business success. I believe that without a proper location a business is 90% not likely to succeed. Location is the courses for me.

 

[Chibson]

One of the main reasons a lot of people fail in business is because they lack the idea and knowledge of how to run a successful business.

 

[Fancymercy]

No Proper research,bad customer relationship,greed and sometimes poor location choice are all factors that leads to this

 

[gammarays]

I think is because of lack of clients. Lack of patronage can make a new business fold up. That was what affected me when I started my small business. It's not easy to run a business and keep up in this pandemic era.

 

[Shigobad2020]

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??

Most people failed in their first business start up because they lack proper orientation to handle the business , and they didn't do the necessary research to help them with the business.

 

[Sincerem]

Most people failed in their first business start up because they lack proper orientation to handle the business , and they didn't do the necessary research to help them with the business.

You're right, orientation is ideal for our own career to lit up high. Without orientation during our first business call, we wouldn't bring us the expected goods.

 

[kayode10]

One of the reason why some people fail at business early is when they are coughing or join the bandwagon. This is very common in my city. For instance, everyone is doing POS business, you may see up to 10 stands in a street and they will be complaining about lack of sales.

 

[Alexandoy]

When a business is poorly funded and not well studied to know how to plan it to be successful, such business will surely fails prematurely within months of establishing it.

Ouch, I experienced the poor funding in my retail business. All the while I thought my capital would last for a year but after 3 months my cash flow was already crawling. It was a wrong estimation on my part and I admit my mistake. Now my advice for a start up is to have double of the estimated capital.

 

[delnovem]

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

 

[Chibson]

one of the main reasons a lot of people fail on their business startup is lack of orientation and proper knowledge of how to manage a business successfully.

 

[Heatman]

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??

When you start up a business without actually making a good business plan for you to use to run the business on day-to-day activities it means that the business is most likely going to fail.

 

[Setfragil]

Ouch, I experienced the poor funding in my retail business. All the while I thought my capital would last for a year but after 3 months my cash flow was already crawling. It was a wrong estimation on my part and I admit my mistake. Now my advice for a start up is to have double of the estimated capital.

It is not necessary for you to double your estimated capital, what you need to do is to always make sure that you research and plan your business before you establish it.