Starting a business, whether it be from home, or in an office somewhere, may sound like
perfect solution to your working blues, but unless you’re committed to making it work, you can find yourself on losing end real quick. Businesses fail for many reasons. It is important to understand those reasons so that you can decide whether or not you are up to challenge. Those reasons include:
1.Fear—Whether it is fear of success or fear of failure, fear of stepping out of one’s comfort zone to try something new, or fear of trial and error. Fear can freeze a person dead in his or her tracks.
2.Failure to plan.
3.Lack of funding.
4.Procrastination
5.Excuses. Especially making an excuse for any and everything that causes you to stumble.
6.Doing busy work. Keeping busy doing unimportant tasks.
7.Inability to delegate tasks. Sometimes delegation saves your business. If you have a weakness, hire someone who could turn that weakness into a strength. Use others to complete simple time consuming tasks so that you can do other things.
8.Failure to Research.
9.Failure to Market.
10.An inconsistent advertising campaign. It is better to have a ton of small ads on a regular basis than one large ad on a monthly or yearly basis.
11.Your pricing is too low, thus resulting in a negative cash flow.
12.Bad accounting practices.
13.Choosing quantity over quality. Cutting corners is bad business sense.
