Here Are My 5 Reasons Why Startups Fail
If You Have Any Others Leave Them In The Comments Below
Everyone can open up a business but not everyone can develop their business successfully … Have you ever wondered what the reasons for failure are? Is finance the only culprit? Or are there more reasons at play here. Take a look at these 5 main reasons why startups fail and add yours in the comments below.
1. No Concrete Planning
They have no concrete plans, ideas and thoughts – they have a lack of guidance to ececute the daily operation of their business successfully. They don’t realise that planning is an important part of business and instead just go for it with their gut feeling and on a ‘wing and a prayer’.
2. Limited Business Opportunities
They believe that they will be able to make a big income ‘going alone’ without networking with other like-minded entrepreneurs. Egoism, and such like, could be a possible factor that hinders them from accepting help and other peoples opinions for more business opportunities.
3. Lack Of Knowledge
Inexperienced newbies to the industry who believe that they know it all, but in fact have a serious lack of knowledge in all aspects, may be a another cause of business failure. Quite a few people are totally unaware on how to focus their niche in one area, how to best manage employees/outworkers, how to handle their financial income, how to attract customers etc.
4. Lack Of Vision
New online entrepreneurs very commonly fail to plan their business for the long term. They focus mainly on the short term – the current situation. They fall in love with the idea of earning quick cash by investing very little on their business. This could lead to devastating results for the business which could be hard to come back from.
5. Give Up Too Early (My Main Reason)
When they feel like everything is failing and not going the way they thought it would, they give up on the business with the idea that it is better not to loose too much money. They loose momentum – maybe because they didn’t realise how much hard work was needed or how long it takes to see results. They fear failure and choose therefore to end it clean rather than cause a bigger mess.
If You Want To Be Coached By The Very Best, Have Access To 1000’s Of Training Courses And Use Some Of The Most Powerful Online Tools – Then What About Wealthy Affiliate? Join Wealthy Affiliate With This GREEN Button:
DO NOT Commit These StartUp Atrocities! If You Want To Build Your Own Successful Online Business You NEED To Check This Out!