You would fail and is failing at your business is because you are not coordinating your business well you have very Poor cash flow management. This makes you to lose control of the finances. You have a bad planning and weak leadership. Add yours
Top reasons you failed at a business
- Thread starter cherry123
- Start date
Getting leads and orders is a major problem for home based businesses. In some countries, the government agencies falsely label the business owner a security threat without proof to steal all the orders, correspondence without a legally valid reason, so the business revenues are very low.
Business failure may be due to products not meeting with customer needs; poor customer service and poor financial management.
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- #8
You are on point a business that can't satisfied the customers maximally would have the business in almost in ruins as the customers will vanish and the business fails.
My business is dying gradually because of wrong location and poor funding. If I have enough fund, I will relocate to another place.
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- #10
Why don't you look around for ehst the location wants or lacks and add it to your store you would make sales.
There are many reasons why a business can fail, according to my experience, one of which is the wrong location of the business, and the business is not handled in a professional or serious manner, fraudulent business partners etc.
One major reasons people tend to fail in business is usually due to lack of proper preparations. Most young entrepreneurs are usually too anxious, they want to start making profit instantly, hence they do not take the needed percussions.
Possible reasons are
Inadequate market research and comprehension of the target client.
Inadequate product or service quality.
Inadequate financing or investment.
Inefficient processes or excessive overhead.
Marketing and promotional activities are insufficient.
Failure to respond to shifting market conditions or industry changes.
There is a lack of a distinct and unique value offer.
Failure to create and sustain a strong team culture and business culture.
Inability to properly handle and overcome internal and external obstacles.
Inadequate market research and comprehension of the target client.
Inadequate product or service quality.
Inadequate financing or investment.
Inefficient processes or excessive overhead.
Marketing and promotional activities are insufficient.
Failure to respond to shifting market conditions or industry changes.
There is a lack of a distinct and unique value offer.
Failure to create and sustain a strong team culture and business culture.
Inability to properly handle and overcome internal and external obstacles.
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- #15
Your first paragraph is the truth some people don't just prepare. They just get small Capital and boom off the go
I agree with you. You absolutely need some capital to run a business.
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- #19
Sure you need a capital especially for capital intensive business. So it is always good to get prepared before starting out.
Yes, that's right. I believe that the key is mainly money for every business you are going to start.
