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

[Ruthyfizy]

Some business tend to fail due to insufficient funds, lack of awareness or business strategies to boost the business and in some cases inability to put up with the competition..

Post automatically merged: Feb 1, 2021

Some business tend to fail due to insufficient funds, lack of awareness or business strategies to boost the business and in some cases inability to put up with the competition..

 

[Alexandoy]

Based on my experience there are potential problems that I did not see like a surge in sales which caused a shortage in supply. There's also the problem in the staff where one was always coming in late but I couldn't fire her because there's work to do. Maybe a lack of planning on the potential problems would have solved the issues that I did not expect. When the potential problem is thought of then there would be the list that contains the prevention and the contingent action when it happens.

 

[Dubai]

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??

A whole lot of factors could cause a business failure prematurely. The number one killer of start-ups is lack of know-how as well as skill in the business. In addition, when the drive or enthusiasm is low, a startup could also fail. However, many would want to say the lack of maintenance cost for the effective running of the business is why many start up die after few months of opening.

 

[Sincerem]

A whole lot of factors could cause a business failure prematurely. The number one killer of start-ups is lack of know-how as well as skill in the business. In addition, when the drive or enthusiasm is low, a startup could also fail. However, many would want to say the lack of maintenance cost for the effective running of the business is why many start up die after few months of opening.

Your points are well stated, lack of no how, strategies, and unable to keep the cash flow etc. This kind of factors slow down the progress of the business one the owners finds it difficult to provide or make up this factors.

 

[Dowenship]

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??

There are series of challenges that hinders business. Most challenges are the individual mindset because if the mindset is right then other challenges can be won. But if the mindset I not right theirs will be a lot of challenges

 

[Samzii]

One of the reasons why people fail in business, is lack of good business plan. When business owners don't have a good business plan the business tends to fail. Another reason is lack of good customer care services

 

[Richard92]

People lost hope and fail in their by because they do not have dedication, and focus on their business, they are always are move by the situation and challenges of they get from the business. Sometimes if they don't plan they face different difficulty.

 

[Noor khan]

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??

Yes you are right in this matter the core team is very important. A good team with a mediocre idea is always better than an average team with a good idea. During rough times a great team can navigate the ship through the storms, but the same thing cannot be sad for the mediocre team.
When you hire someone for the team make sure that you know why you do what you do So that you can clearly explain your vision to your prospective team members. Your team members must believe in your vision; all of you should be on the same page.

Post automatically merged: Feb 2, 2021

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.

Passionate about work and business leads to a good profits and yes truely saying it is based on my experience there are potential problems that I did not see like a surge in sales which caused a shortage in supply. There's also the problem in the staff where one was always coming in late but I couldn't fire her because there's work to do. Maybe a lack of planning on the potential problems would have solved the issues that I did not expect. When the potential problem is thought of then there would be the list that contains the prevention and the contingentaction when it happens.

 

[Seun4luv]

Poor cash flow management. You may be sick of being told “cash is king”, but it doesn't change the fact that poor cash flow management can lead to the demise of any business. Losing control of the finances. Bad planning and a lack of strategy. Weak leadership. Overdependence on a few big customers.

 

[Noor khan]

One of the reasons why people fail in business, is lack of good business plan. When business owners don't have a good business plan the business tends to fail. Another reason is lack of good customer care services

Yes unfortunately these are the things about failure of bussiness.
A whole lot of factors could cause a business failure prematurely. The number one killer of start-ups is lack of know-how as well as skill in the business. In addition, when the drive or enthusiasm is low, a startup could also fail. However, many would want to say the lack of maintenance cost for the effective running of the business is why many start up die after few months of opening.

 

[Abibatabosede]

Some people face challenge in there job prematurely by age and some lose their prematurely due to their reasons to challenge, lack of knowledge, lack of financial, due to lack of plans, these are the major challenges that can business die.

 

[Kingsley]

young business die as a result of lack of technical know how, and lack of proper research in the business area they intend to get themselves involved in. They also fail as a result of poor funding or wrong sourcing of fund which might lead to hug interest on loan.

 

[Sunnytee]

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.

 

[Klismannm12]

I have been may be privileged to meet a lot of business owners they calling my uncle who had eight levels for when he started earlier and one of the things that pioneers it is in staying in a very bad environment in an in an environment that is less populated I think is one of the reasons most businesses close up if you stay in a good environment definitely will make it and then because down on your standings.

 

[Dowenship]

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.

Hmm....sometimes is not about poor planning of short term and long term goals for the the business or bla bla...... Have we ever considered the environmental conditions or tragedy that could struck along the way. Example is the covid 19 that happen recently.

 

[Philip Omotayo]

It is not enough to have a business idea. Every start up businesses face different challenges ranging from capital to start the business. To gain patronage or draw traffic of customers is another important challenge of every start up business. More so, discouragement of friends and family is another thing. The family lack support in promoting the start up business of their members. And finally, market place is another problem facing the medium and small scales businesses.

 

[Presido]

Th obstacles and hindrance business enterprises usually face that often make them fail prematurely in the business is very much but only few can be stated in this comment.
When the money in the business had been spent untimely then the business is liable to die prematurely.

 

[Jlife]

Inexperience is one of the things that can make any business to fall a situation that you go into a business but you don't know the real purpose you are into that particular business is enough reason to make you to fail in that particular business because you won't know the right decision to make

 

[Samuelkanu]

There are many reasons for business failures. It differs from person to person. It can be as a result of not having enough skills required for the business. It can also be as a result of the economic situation at that point in time. It can also be a lack of capital required for the business to start up. But the best thing is to know the skills required for the business from experience. It is better to have a mentor to teach you the business and for you to have first-hand experience in the business. This helps to eliminate mistakes and give you knowledge of the business you are involved in.

 

[Ralphjoe]

The biggest challenge that most start ups are experiencing is lack of a good business plan. If your new business wasn't planned through a well-written document then that business is on its way to fold up pretty soon. The importance of a business plan cannot be overemphasized as without it, the business will be operating in a vacuum.