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

[Sincerem]

Lack of concentration in business is the main issue and is also the main reason why a lot of people do fall in some business and not knowing how to satisfy your customer is number one reason that make people to fail in business, just know your goal and responsibility as a businessman.

Okay, concentration is needed from a business owner in order to bring the best out of his or her business. People lose concentration based on short comings at some point in their business career. But ability to stand firm and shrug off the short comings will enable one to succeed in their respective businesses.

 

[LaylaG]

Okay, concentration is needed from a business owner in order to bring the best out of his or her business. People lose concentration based on short comings at some point in their business career.

I think the reason some people lose concentration in business is because they can find out that this business is no more moving and there's no need for them to waste their energy to continue doing the business they will just get tired and leave everything like that, sometimes this is not the best option.

 

[Sincerem]

I think the reason some people lose concentration in business is because they can find out that this business is no more moving and there's no need for them to waste their energy to continue doing the business they will just get tired and leave everything like that, sometimes this is not the best option.

but we all know that's not the best idea to follow up in the business initiative. No matter the loss of concentration we should always thrive to Land a business success irrespective of the shortcomings, the hard folk that surface in the business initiative.

 

[Alogakho Esson]

Business can fail resulting from many circumstances surrounding the business some is giving good for credit and customer refused to fortified they payment

 

[Ridorz]

Some people fail in business because they don't have a adequate knowledge to run it, some people don't make a well plan for a business, some people don't have a financial planning, some people don't have a focus, some people easily get tired of business, lack of self motivation etc. I think this are the reason some people get failed in a business.

 

[LaylaG]

but we all know that's not the best idea to follow up in the business initiative. No matter the loss of concentration we should always thrive to Land a business success irrespective of the shortcomings, the hard folk that surface in the business initiative.

yes you are saying the right thing but just that only few people have an understanding of what you just said because they believe that if they cannot make it in a business within a certain period of time this will just move on to another business. It is not the best in deed

 

[Kinglegend01]

There are a lot of reasons why people fail in their chosen business. A very common one is not having enough knowledge and inadequacy research on the business type before establishing the business. Another is inefficient management and organisation in the business. Laziness and been erratic is another cause of business failure.

 

[kayode10]

The problem with most People is that some of them just open up a without knowing the nitty gritty. Some of them established a business they don't have basic knowledge about. They see other people doing it, they assume that money is made with the venture, the next thing is to do the same. They don't what the necessary steps need to take hence they fail with short time.

 

[Eodine]

There are so many things that might contribute to the failure of a business failing such as starting too early, bringing in the wrong partner, not taking decisions, no or poor market strategy which is why it is important to plan before starting a business.

 

[GIFTMICHAEL]

What makes some people to fail in business is lack of proper planning and reckless spending.
How can you be spending business money as if you are spending your salary.
Even profit in business is not supposed to be spent until the business is stable.

 

[Sarfraz Ali123]

A primary reason why small businesses fail is a lack of funding or working capital. In most instances a business owner is intimately aware of how much money is needed to keep operations running on a day-to-day basis, including funding payroll; paying fixed and varied overhead expenses, such as rent and utilities; and ensuring that outside vendors are paid on time.

 

[Planet408]

Some of them give up on their business easily and forgetting that it takes hardwork and patience to build a successful business. Every business comes with one challenge or the other but consistency can take you far in business.

 

[Adventurer]

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??

So many reasons ranging from cash flow problems, hiring the wrong staff, time management, lack of proper planning, la

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??

Different reasons ranging from lack of proper planning, poor knowledge of the business, mismanagement of funds, no sales, bad customer service, low cash flow, hiring wrong staff.
Statistics say 80% of small businesses fail within the first 5 years.

Post automatically merged: Feb 1, 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??

So many reasons ranging from cash flow problems, hiring the wrong staff, time management, lack of proper planning, la

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??

Different reasons ranging from lack of proper planning, poor knowledge of the business, mismanagement of funds, no sales, bad customer service, low cash flow, hiring wrong staff.
Statistics say 80% of small businesses fail within the first 5 years.

 

[Victor-t]

Lack of resources or financing, retention of a weak management team, poor infrastructure or business model and ineffective marketing strategies are the most common reasons for SMEs to fail. Small companies are most frequently left with a lack of capital or funding, retention of an insufficient management team, poor infrastructure or business model and unsuccessful marketing.

There are many things that can make people to fail in there business, eg. Lack of Vison,Lack of determination, inability to take risk i.e fearing of risk, and having low self-esteem about what they are doing and about the future of their business.

 

[Ifective]

Some people without having experience just jumped into a business. Some do not even draft a business plan ahead of the business or some even don't know how to write a business plan.
Some people are pressured to go into business without having the urge to because of friends or relatives. It is very important that one has good knowledge about what he or she wants to do before he goes into it.

 

[eenya00]

People fail for different reasons when starting a new business, but one of the chief reasons I believe is over expectation and lack of proper preparation. you could be expecting too much from a business and when that expectation is not met you will get demoralized and give up so easily.

 

[Ayokex]

Not everyone that started a business are real entrepreneurs so just heard that a particular business is profitable and without adequate research of the business they quickly venture it. Most businesses fail at their initial stage because of poor management and lack of knowledge of the owner. Business is not just about interest and money but it's more of understanding the key principles.

 

[Adetayo100]

Most businesses fail because of lack of proper planning before starting the business and some fail to do extensive research before starting. Another is poor management and bad employees.

 

[Kelly5]

Some business may collapse in premature level due to many reasons of challenges they might be facing and I can just mention a few of it. Lack of knowledge, lack of well plans or strategies, lack of financial, lack of well management, lack of customers care etc. These are the major challenges that can lead a business to die.

Most of the new business startups lack the experience and capacity to run their new Enterprise. They hit the slightest challenge in the business, they suddenly fold and packup. A lit of studying is needed

 

[Briangsam]

Many businesses fail truly despite so much promise it carried at the initial stage. Many businesses fail because of poor planning for the short term and long term goals of the business. Some also fail because they have a very weak management team. Some fail as a result of theft and sabotage.