What are the most common reasons businesses don’t succeed?
Have you experienced any failures in business? Have you had other businesses that didn't succeed?
The Biggest reasons most business fail is due to fear, and lack of self belief. It is imperative that business owners and entrepreneurs have an exceptionally strong mindset if they want to succeed. It's really that simple.
Agreed @Maini Homer , that the reason that the people who enter business and fail is because of fear/lack of self belief.
However successful entrepreneurs still encounter failed businesses over their career. And sometimes, that's just the nature of business.
At other times, these factors play into it..
- lack of planning
- lack of research
- response times to problems too slow
- poor cashflow management
- not enough knowledge of business finances
- too easy to give up