billy.wattsbilly.watts

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Why do businesses fail?

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billy.watts
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melinda.johnson
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Mismanagement seems to be the most common reason. If the owner doesn't know what to do, it causes a domino effect down to their staff.
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mark.snow
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Poor leadership is probably the number one reason. The saying 'the captain goes down with the ship' holds true for businesses.
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kyle.williams
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Poor leadership is probably the number one reason. The saying 'the captain goes down with the ship' holds true for businesses.
I agree.
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jc.martin
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That's poor business planning.
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Lack of funds. Starting a business requires a huge amount of money.
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Businesses fail because of the lack of short-term and long-term planning. Your plan should include where your business will be in the next few months to the next few years.
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Poor management skills.
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Not doing enough research before actually starting your business can be detrimental because you do not understand industry trends or your market which could ultimately be the downfall of your business
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I think some businesses fail because of a lack of funding or financing to actually keep the doors open, especially during the early growth phase
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Management that makes impulsive decisions and don't think long-term.
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The workforce is very important. If you don't have a skilled and competent team or personnel, you're quite likely to fail
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Businesses that fail lose touch with their customers. Keep an eye on the trending values of your customers. Find out if they still love your products.
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It could also be that your business plan sucks or your products suck.
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