Common reason why most business fails.(online or offline)

[Immilash]

Many businesses ended up collapsing because of some due reason, some times it makes me to think someone will start up a business an leave it that way that's very bad. Those kinds of people thinks money is all we need to start the businesses of our dreams but sorry that say money isn't all we need to make our business successful. Before you can make your business successful you must go through some process. that's not the main reason of creating this thread. Back to our topic common reasons why most business fails. The first thing that makes most business to fail is lack of plans, while starting up a new business many people don't mind including business plans in the equation and this leads them to loose lots of their investments. Business Plans are very important especially if you are starting a business for the very first time.
Secondly the mismanagement, mismanagement also leads to the failure of most businesses but in other to avoid failing in our business there's need to manage and provide a good customers service. There are many things that makes our business to fail but this two plays the major role.

 

[Sherman198]

You have said it all....Truly money is not the only thing we need in running a business. We apparently need lots management skills to be able to manage our business properly. I have known many businesses to have collapsed due to lack of management skills.

Sorry to say, but I think this should have been in the business section, if I'm correct!

 

[General01]

Beautiful I agree with you
In addition to that, part of the reason why business fail is loss of motivation.
Motivation is critical to the continuity of a business . Sometimes you may not feel like to continue consistently , sometimes you feel like giving up and it is normal and it does happens to almost everyone .

However where the difference lies between those that fail and succeed is that those that succeed motivate themselves and regain their motivation
Whereas those that fail just stay idle and give up
We are our motivators!

 

[Good-Guy]

Various kinds of businesses fail due to various kinds of reasons. I think one of the biggest reasons why many businesses fail is because the investor usually does not have much experience or knowledge. They miscalculate the amount needed to start the business and they fail to manage or run their business. Moreover, Many business owners give up too early and wind up their businesses. I think business takes time to settle down. A person should think a lot before starting any business. He must have experience, too. These are some of the basic things that are required to run a successful business.

 

[Sotherefore]

Most of these things will only happen to people that does not really understand what business is all about , but in the modern society I don't really think someone can just go into a business without making adequate plan and preparation on the business they are establishing, about from plans and preparation I have to also do research to understand about the type of business that will be suitable on a particular location. I cannot just start a business and start believing that it will be successful without any proper research... Mismanagement can set in when you are dealing with dubious employees.

 

[Smooth]

Please how can I make a post, site says I need 20 post to start posting in forums, please help me

 

[Atbul]

To start a business you need a good prepared business plan. For the business plan you will need to take in consideration the following:

• market research, if people are interested in your products and/or services
• knowing your competitors and analyze them properly
• make a SWOT analysis to see where are your strength, weaknesses and threats
• make a financial feasibility for short and long term

You must ensure a proper cash flow for your business, otherwise you will fail.

 

[Smooth]

Please I need help getting a post up to 20 but still can't know how

 

[Mataracy]

You are correct. The most things that made some business to fail is lack of good planning.
At least before some body start any business there most be proper findings or research on the business.
The first things to do is to look at your self and ask a question that; did you really have what its takes to start the business e.g Capital and knowledge about the business.
If this question is well answer then you are good to go.
After this ; the environment where you will put the business must be very good enough in order to make good profit at the end.
Many business men don't do this because they think that since some body had been doing this I can also do it which is really contributed yo their falling along the way.

 

[Chibson]

There are many factors that determines whether a business will succeed or not. Sometimes it boils down today business owner and sometimes it boils down to the environment in which the business is located as the case may be. There are several factors and causes of business failure that I have seen and experienced. One of them is lack of zeal from the part of the business owner. When a business owner does not have the drive or the determination to make sure that the business is a success, there is a high possibility that such a business will definitely not succeed. This is the reason why it is very much important that people venture into businesses they have proper knowledge and understanding of because of the long run the success of the business relies on your knowledge and determination. Another thing that causes businesses to collapse is lack of capital. If you are running a business and you don't have enough capital to finance such a business there is a high possibility that the business will collapse on the long run especially when you begin to see competition. A business without enough capital will definitely not succeed especially when there is competition.

 

[Setho]

There could be so many reasons why businesses usually fail online and offline and a lot of them are usually as a result of lack of hard work or lack of proper protection about what is likely to happen. There are some people who are usually too lazy in order to research their competition or to be able to research about the latest technology and trends in the market and how it can be able to affect their market or how they can be able to make the best out of it. This is one of the leading causes of business failure.

 

[TOZZIBLINKZ]

When people hear the words business collapse , business bankruptcy , business liquidation , their mind tends to think nothing other than lack of money to finance or facilitate the business going concern . it is important to know that lack of money is not the only thing that lead to business failure , they are great number of reasons why most business fail today . And whether the business is an online or offline marketing type it can crumble as a due to series of causes .

Disagreement among business representatives can close or end a business thereby leading to failure , this is so true because when members of a business organisation either between employees or between employer and employees do not agree with each other based on some organisational issues laziness and un- industrousness tends to result.

In most cases in proper books of accounts can also cause business video , some employees , workers , or staffs tends to hide some monetary business transactions and accounting entries from their managers and bosses thereby leading to improper and untruthful business recordings and bookkeeping . sometimes actions like this could make a business exhaust its inventories or stock without enjoying maximum profit .