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

[Ebuka Stephen]

Well their are several reasons most people fail during business startups , it includes not being able manage money , most people do not manage the money they make well which could lead to bankruptcy. Another one could be bad decision making, some make mistakes which could lead to their downfall that is why before venturing into any business you must find some information about it

 

[Folaham]

The following list includes some of the most common reasons: 1 – Lack of planning – Businesses fail because of the lack of short-term and long-term planning. ... 2 – Leadership failure – Businesses fail because of poor leadership. The leadership must be able to make the right decisions most of the time.

The role a business owners play in the life of any business cannot be overemphasized. The success or failure of the business lies in the hand of the business owner. As you noted those points above, they all centred around the input of the manager of the business. Planning and taking responsibilities in term of leadership are few of many requirements of the business owners.
Your points are very correct

 

[Ub40]

It is not enough to just start a business but you have to maintain it to get the desired maximum results. I will always hint on acquiring the right knowledge and understanding of the business you intend going into first. It is through this research that will help in the discovery of other necessary requirements of the business. That is my take.

 

[Profwriter]

Negligence and ignorance are two major factors that ruin business down, ignoring what is supposed to be done or ignorance of what is supposed to be done and are combination of negligence and ignorance will not only be fatal but very disastrous for any business.

 

[Sincerem]

Failure to market online. In an age where "Google" is a function, if you're not marketing online, you're not selling as much as you could. ...

Failed to listen to your users. ...

Failure to take advantage of future development. ...

Failure to adapt (and grow) when the market changes. ...

Failure to track and measure your marketing efforts.

Well said man, when one fails to deal on the aforementioned things you quoted here they face some business blip. It is always advisable to follow the market trend. One that isn't following the market trend can't market the on demand things that will make the customers wanting more.

 

[Presh1503]

There are so many things that makes a business that just started prematurely fail
First if you don't have business plan the business is bound to fail because you won't be able to predict the future of the business
Also,lack of resources or Raw materials may cause a business to fail because no resources no production and no business

 

[Abisola]

One of the great mysteries of entrepreneurship is why businesses fail. Some people start one successful business after another while others fail to succeed. If you are interested in starting your own business you can get started for as little as $0. Check it out.

 

[Yasmin]

“Failing to plan is planning to fail” – cheesy but true. Quite simply, long-term planning is key to the success of any business. When mapping out the growth of their business, a business owner needs to conduct market research to establish who their customers are and what they need.

 

[eojo2401]

Poor location of the Business enterprise is a major thing that can make the business to fold up. More so, eating from the capital, poor book keeping and accounting as well as unhealthy competition.

 

[Muradkhan]

No market demand for your product. ...
Lack of skills needed for the business – in founders and in the team. ...
Ignoring and not avoiding cash burn. ...
Reluctance to get feedback and criticism on prototypes. ...
The market might not be ready for your product. ...
Weak team, poor leadership. ...
No real interest in the market you are operating in?

Post automatically merged: Feb 9, 2021

No market demand for your product. ...
Lack of skills needed for the business – in founders and in the team. ...
Ignoring and not avoiding cash burn. ...
Reluctance to get feedback and criticism on prototypes. ...
The market might not be ready for your product. ...
Weak team, poor leadership. ...
No real interest in the market you are operating in?

 

[Oluwasayofunmi]

Answering the question what makes some people fail in their business startup prematurely, some people fail in their business startup because of their negative mindset, and because they are not disciplined

 

[Oliver 20]

Deficient Management
Another basic explanation independent companies come up short is an absence of business astuteness with respect to the supervisory crew or entrepreneur. In certain cases, an entrepreneur is the lone senior-level individual inside an organization, particularly when a business is in its first year or two of activity.

 

[shakky2]

it may be due to lack of insufficient facilities and the fact that there is bo insufficient fund.also it may be due to the fact that the business plan is not well built or prepared.also the fact that the business is not well sought after is also a point

 

[Umerfarooq]

The most common causes of small business failure include lack of capital or financial support, inadequate management team, poor infrastructure or business model and failed marketing initiatives

 

[Spicywilfred]

The term prematurely means weak or not strong. A business that is without proper foundation a strong foundation at that tends to fold up easily, this is because the right strategies, principles and guidelines for the business was not put in place hence the failure of the business

 

[Mostee501]

One of the reasons for a startup business which eventually fails, is due to the fact that the owner starts taking finances from the business to early.

 

[Victor001]

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??

As a new comer in business, they fail to work with what the have available, rather they target high profit and when the expectations don't match the reality,it can create imbalance in the business system.

 

[Adebola]

The feeling of being successful can be dangerous in business. Some people got used to their success in business that they even forget what it takes them to run the business

 

[Dowenship]

Well human nature sometimes take place when there's discouragement and no enough capital to start.. Businesses doesn't just fail but fail because there's no plan.

 

[Cash%]

Many of those challenges are small capital and also poor management skills could cause or also affect the business,these are some of the factors that is a challenge