What do you think might be the reasons for your business failure?

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Stardom22

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• Apr 29, 2024

• #1

So despite all the dedication and hard work that you put in your business and the business fails. What do you think could be the reason for that?

 

Niyi Briggs

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• Apr 29, 2024

• #2

The situation where you give your all to a business and it still fails can be very depressing. But truth be told, you might think you are putting all but you might omitting one critical thing that could have made the business successful. And it might even be so common.

 

nomad

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I failed a couple of times, and based on my understanding I failed because I started my business at the wrong time and without enough experience

 

Ofonime

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Lack of proper planning is one of those ways don't give out your item on credit and don't employ someone which you don't trust to manage your business it's going to contribute to your failure in business you are operating

 

eldavis

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When it comes to business failures, there are so many reasons to this. In some cases it could be due to poor management, in other cases it could be lack of capital and so on.

 

Sanjeev

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Lack of funds and demand are the main reasons for the failure of the business.

 

Starmix

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Failure is not fatal it's normal. The business owner can still make it stand where it belongs. It's from failure an entrepreneur or a businessman becomes stronger.

 

Shavkat

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The most common causative factor is mismanagement. If we are into this kind of situation, then we need to do something about it as soon as possible.

 

cherry123

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• #9

Different reasons abound like lack of funds and poor location are the main reasons for the failure of the business

 

Shavkat

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• #10

cherry123 said:

Different reasons abound like lack of funds and poor location are the main reasons for the failure of the business

Click to expand...

I also agree with the geographic location of the business. Traffic places are best to build up a business.

 

Starmix

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• #11

One cause of business failure is abuse. The owner might always spend the sales of his business.

 

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• #12

If you put in all efforts and a business fails, shut down the business for some tome and embark on a training because knowledge is lacking in that business.