Why Small Businesses Fail

Business Failure

  1. The owners lack motivation – to succeed you need to be motivated so you can: Get up every day and do what needs to be done, motivate your employees and motivate your clients to buy
  2. Lack of perseverance. Many small business owners just give up too easily
  3. They try do everything themselves instead of focussing on their strengths
  4. They’re disorganized so they often don’t do what needs to be done to succeed. They’re not great planners
  5. They don’t produce quality products and services. You can only fool some of the people some of the time and often they don’t get the job done properly the 1st time
  6. They fear failure so they do what they’ve always done instead of changing with the times
  7. They focus too much on problems rather than coming up with solutions
  8. They’re not good delegators
  9. They lack self confidence to market and sell their products and services
  10. They’re often accidental entrepreneurs so they don’t get the training required to build a successful business
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