There are a lot of factors that go into the analysis of why businesses fail, but here are ten to consider as your plan your venture and fine tune your small business goals and strategies:
1. The business had insufficient financing.
2. Not enough “due diligence” research was conducted prior to opening.
3. No marketing savvy.
4. Failure to identify the target market for the product or service.
5. Poor management.
6. Unrealistic expectations.
8. Failure to recognize limited abilities.
9. Not enough time invested in developing the business.
10. Lack of self-confidence and failure to focus on details.