The Most Common Reasons Of Business Failure
Off course the list of reasons why businesses fail can truly be endless, but the following ten reasons are perhaps the most commonly occurring ones:
- Bad cash management and overall business administration.
- Lack of Planning. Not creating and executing to-do lists. Not identifying and meeting any milestones.
- Over-attention to the short-term in comparison to the long-term.
- Wrong leadership. Instead of leading by example, management often in-styles a culture of boss and servants.
- Recruiting the wrong type of employees.
- Insufficient market for their product or service.
- Ineffective marketing of products or services.
- Failure to generate enough leads.
- Inability to convince customers to buy.
- Failure to create business systems that work.
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