Best Reasons Why Business Fail | BUSINESS TIPS

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Best reasons why business fail

Hello everyone, how are you all doing? Today we are going to be talking about business, best reasons why business fail. And without delaying we are going to dive into it immediately.

so here are the reasons why most businesses fail


  1. LOCATION OF THE BUSINESS

    In this particular, the aspect most people go for any location in other to start the business without considering if the location of the business is in the right place, because the location of the business matters so much, let me give an instant: you are into provision business and you found a location and it is in the industrial area you see it is not the right place for that business, another is, you are into restaurant business and you found a location in the industrial area, you see that is the right place for the business because the people working in those companies will come to eat during the break period.

  2. BEING CONSISTENT (OPEN VERY OFTEN)

    Being consistent matters a lot, because when you start a business you need to be consistent so people can know that you are serious in what you are doing also will be coming to patronize you and will know you for that which you do.

  3. SELLING TO MUCH ON CREDIT (AS A SMALL BUSINESS)

    As a small business owner selling on credit is not healthy for your business at all, big business owners can sell on credit and still make gains because they buy things in big quantity, but you as a small business owner who buy in little quantity you are not supposed to sell on credit because it will run your business down.

  4. LOOK DOWN ON THE LITTLE GAINS

    This aspect is also very vital in business development, because we overlook this things, this small gain impact a lot but I found out that some look down on it, which is not supposed.

  5. ONLY SOURCE OF INCOME

    If you are a small business owner you have to pay attention to this, this is the main reasons why most businesses fail because they depend on it to feed the family from and also pay the school fees of the children and many more other things. To be successful in business you need another source of income to sustain your family with not from that business, in that way, the business will grow.

  6. BEING DISCIPLINE

    This is the most reasons why businesses fail because the owner of the business is not disciplined at all, you see been a discipline in your own business is not a bad idea because that will help your business to grow more. For instance, not using the product for yourself or for your family, and much more alike.

  7. FAMILY AND FRIENDS NOT SUPPORTING THE BUSINESS

    This is the major reasons why most businesses fail when you see family and friends not patronizing you and the ones who will patronize will be pricing the goods so low that you don't make anything out of it. For an instant, a relative will come and expect you to give it for free not paying, which is very bad even if the person in question is your mother or mother-inlaw the person needs to pay for the goods because it's a sign of respect as well.

So I hope you enjoyed this post? Then let me know what you think in the comment below. Thank you and do have a fabulous day bye.

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