Why do 80% of Businesses Fail?

February 2, 2009 Written by Frances Schagen

The statistics tell us that 80% of businesses fail in the first 5 years.

The reasons cited include:
lack of basic business skills
not enough good advice
cash flow problems
lack of sales
losing focus
pricing poorly
not seeking help
underestimating the competition and the market
undervalueing promotion

Usually the reasons are directly related to the product or service sold by the person citing the statistics.

This month, in the Business Owners Success Club, we are going to look at what it takes to make sure your business succeeds. Is it a matter of discovering the 36 or 100 or 78 business competencies and mastering them?
Is it a mindset? Is it as simple as making a great product or service and selling it at the right price?

Follow along as we explore this and please comment to share your ideas about what it takes to be successful in business.

More Profit, Your Effortless Business
, , , , , ,
Similar posts
  • Janet Thinks About Scaling Her Busine... — “Janet” Janet was in the building supply store checking in on things when she heard her name called. They were a major supplier, therefore a major part of her business. She wanted to make sure they knew who she was and that they were happy with her. She looked around to see who was calling [...]
  • Your Favourite Business — You know the one. The one you look forward to visiting. The staff are happy to see you, you feel comfortable there. You know what to expect and you know you will get what you need – and more. You tell all your friends about this business. Your friends smile and nod. They know this [...]
  • Growth — I’m talking about growth of you as a person and as a business owner. There is a difference between 10,000 hours spent working on your craft and 1 hour spent 10,000 times. Your craft is your trade, what you do in your business – marketing for your clients, baking pies, massage therapy. It takes time, [...]
  • Why you have plateaued in your busine... — You know that feeling in your business that no matter how much harder you work, you aren’t making the progress you should. You are doing all the right things, the things that worked in the past. The things that others are doing and getting great results. The things all the books, gurus and courses are [...]
  • 6 Stages of Starting Your Business — I resisted. For the longest time. Working with people starting a business. People in startup mode are overwhelmed and when my clients are overwhelmed, I get overwhelmed. When you are starting, you need so much. All at once. I didn’t think I had the ability to be effective and really help. Until I realized that [...]