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Why does your business fails?

Why does your business fail? 10 dumb reasons

Everyone starts a business with so many dreams or let’s just say you work hard day to night to make your business work. If your business stands up you will be living a good life, your family will be living a good life, and you will get social validation, respect, and all the thing you need to have a good life. But from out of 100, 95% of business fails. Do you know why your business fails or failed? We have listed 10 reasons why businesses fail or to be very particular 10 dumb mistakes you do that make your business a fail project.

Here is your answer to the question of why does your business fail? reasons for business failure with examples.

Why does your business fail?

Business fail for many complex and simple reasons, But most of them fails because of the founder himself. Here we listed and ranked 10 dumb reasons or mistakes you do that could lead your business to a failure. If you did one of the mentioned below mistakes don’t worry, You won’t do it again , we wish you good luck for the next venture. If you are planning to start your first venture then you must avoid these mistakes. So let’s discuss 10 reasons why small businesses fail. Okay, no more talks. let’s get into it.

1. Not starting small

Starting big can be a big mistake sometimes. Business is about buying-selling or in one work, trading. Starting with a big shop, a big investment is a huge risk and many business magnates and established entrepreneurs say this also. There are many examples of corporate businesses that started big and then collapsed. Moreover, when you start you don’t have money, usually your family has to fund the money. So, if you do lose in business then you’ll have nothing left to give back to your family. So We will suggest not to start your business big, start small and grow your business big. This is a bold answer to the question Why does your business fail.

2. No experience

One of the most common and dumb mistakes that many entrepreneurs make is starting with no experience. Experience is a must to start is business. We will suggest that, before you start your own business, do an internship in any shop or business that is related to the business you want to start. By doing so you’ll learn the terminology of the niche and business. Or get enrolled in any course relevant to the niche you want to start a business. This is also a reason of Why does your business fail.

3. Copying other’s ideas

Hereby Copying we mean to say trying someone else business ideas. What usually happens is, An wannabe entrepreneur sees a business that is going well and jumps into this business with no prior experience and knowledge about this business space. That’s a very bad idea, we’ll discourage you to do this. If you want to do the same business which is already established and running well please get some knowledge by talking to the people that are into that niche. And another thing might be the best for you is doing a course online, it will save a lot of time and you will gain the knowledge as well. If you want our suggestion please comment down below , we will be more than happy to assist.

4. Not adopting new things

Business is about evolution and revolution. In an age where everything is evolving, especially business, not adopting new things is one of the dumbest mistakes that new entrepreneurs do. Not only new entrepreneurs, this mistake has also been done by big companies also, for instance, Nokia. Nokia has very little share in the smartphone market now. So it is necessary that you should learn every day. That will be a plus point for your business. Before you read more of Why does your business fail we want to remind you that If you want to learn new things or get new updates of entrepreneurship world consider subscribing our newsletter.

5. Not learning

As the industry emphasizes itself new things are coming abroad. Did you ever think that one day AI will lead the content writing market? But it’s happening now. If we or I told you that space tourism will be a damn real thing in the future 15 years ago? Would you have believed that? And what about NFT (Non-Fungible Token)? Who thought that NFT will a big thing 5 years ago? But now we are living in the NFT era. ( Sorry for interrupting, we just want to say that we have written a detailed article about Entrepreneurship with NFT, It’d be great if you check it from here). To learn new things, roll yourself as the worlds roll itself.

6. Not serious and consistent

Hereby serious, we mean to say dedication. Dedication for your business should be on the next level, dedication is what makes your business great. If you have dedication, people will love that, and even investors search for dedication and seriousness when they invest. For example, Anupam Mittal, CEO of Shaadi.com had invested in Ola in 2010 when car ride-sharing service wasn’t even something to think about. On a podcast with Raj Shamani, he revealed that he didn’t think that OLA will be a successful business but he invested just on basis of the founder’s potential, seriousness, and dedication. If you have these just be consistent, you will rise by the grace of the creator.

7. Loan or Debt

Loans or Debt can be a killer. Yes, loans can be a killer also. The loan is something that needs to be managed properly to grow your business alongside paying the installments also. This skill doesn’t show up at the starting so we’ll suggest not taking loans at the beginning. Now you might be thinking you have low investment and you want to start, but how would you do without loans? We got your back, check this article here, we have explained how you can millionaire with such a low investment.

8. Being not strict with yourself

Being not strict with yourself as a founder is also one of the most common reasons for business failure. Be consistent, get stuck to your business, and give your business priority. Maintain the 20/80 Rule. Don’t give too much overdue, always remember that you are running a business, not a charity. Don’t fall for sweet talks or you will ask yourself Why does your business fail.

9. Old marketing

In these contemporary days, Digital marketing is the key to business growth and revolution. Analog or old marketing is just fading away day by day. Every big company is moving towards digital marketing. Giving ads on Television is more costly than advertising on social media and search engines. Get your business on the internet, run ads on social media like Facebook, Instagram, and Twitter, Don’t be goddamn boring, post your brand’s words. Last but not the least, open a website for your business.

Many entrepreneurs don’t open a website and it might be rude to say but they are doing one of the dumbest mistakes as an entrepreneur. Soon we will write why your brand needs a website when we will be done with the writing we will link it here. Now or after you finish reading this article, Kind hover over This link so that you can also know the secret of How entrepreneurs think structurally.

10. Growth Assumption

Growth assumptions can kill your growth. Sounds ironic, Isn’t it? But it is a fact. By growth assumption, we mean to say your business is growing and you have already assumed that it will grow like this in the future. That is a wrong assumption and mane entrepreneurs stop giving efforts into their business after having this growth assumption. Many of new entrepreneurs have failed because of growth assumption.

Hey, If you are from

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Why does your business fail

Conclusion

Keep your business the first priority always. Your business will give you everything you want. Be patient, be consistent, and be hungry for growth. Get your marketing to the next level. Now give yourself a couple of minutes to check if you have the entrepreneurial skills in you from here

Please comment down if you have any suggestions or any queries, we will be glad to assist. Don’t forget to follow us on Pinterest

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