Why 90% fail in the 1st year...to start their own business?

[osch]

There are 3 types of people in the world;

1. Those who make things happen.

2. Those who watch things happen.

3. And those who ask, ' What Happened?'



Which one are you?

Can you imagine for a moment what your life would be if...

- You felt like what you were doing was enough?

- You eliminated financial concern?

- You looked forward to what you were doing each day?

- You spent your time with positive, productive and enthusiastic people?

-You spent more time with FAMILY?


How would that feel?

 

[Sotherefore]

People that actually fail when they start up a business could be because they did not make an adequate preparation for the business they are going into because these are the things that can lead to business failure, proper planning and preparation is the best strategy to succeed in business.

 

[Augusta]

Yeah, business isn’t easy to run and make a success of it. You need to work more smart and hard to have the best from your business. Without sales you can’t keep a business afloat so having the capital to start a business but what will sustain a business is patronage.

 

[Abigael]

Starting and running a business is not an easy task. Most people fail because they are reluctant and don't actually put out the effort and learn the skill needed in running the business. Actually planning the business, practicing the skills needed, believing in yourself and hanging out with the right company will increase your chances of success in business.

 

[Sherman198]

It's better to make enough research before starting..... Starting a business is not an easy job that's why due process ought to be taken before establishing a business. Many people makes mistake of establishing business without doing what will make their business successful. And those businesses don't last long.

 

[Good luck]

Most people fail in the first year of starting business because of lack of insight.A lot of people venture into business without having a good knowledge of the business.A lot of people are imitators.My friend is doing a particular business,let me also try my hand on it as well and before you know it such business will crash in less than a year or there abouts.

 

[btaliat]

The beginning is the hardest. There are many instances that will be calling for backing out. There will be challenges together with competition which may eventually lead to frustration. It takes a courageous mind and discipline person not to back out. Lack of focus can even lead to failure in the first year. Some have forgotten the reasons why they set up businesses.

 

[Wisdom01]

Some people actually don't pay too much concern about launching their business probably in the first year and instead of doing so, they start procastinating and extending the time they are suppose to start their business , and this affects the growth rate and development of the said business

 

[Bookwormlux]

There a lot of reasons that could make somebody not be able to manage a business even when starting it right from the beginning .

I understand that you are really considering those who could not even sustain you for even while he and I have a lot to contribute with regards to this .

But my major focus here is that the reason why people tend to not be able to go about a business for long time before they fail in it is due to fear .

Fear of the unknown is a major reason why a lot of businesses are still struggling and have not been able to find their ground yet .

So many intending business owners are not just focused, and allow fear to take over every aspect of them .

This is especially common among people who do not have any prior experience in the handling and running a business .

People like this often feel that they are not having a capacity to effectively manage a business, and this is a major reason why they're funding it hard to sustain any business .

Those who want to succeed have to make sure that they deal with fear, because it is the only thing that will motivate them to give up easily.

 

[Austinaldo]

Failing in a business don't necessarily mean you can't get past it and move ahead. The major failure is giving up and not trying it again.

I personally think business owners who fail and give up in their first year lack perseverance and discipline. Without this no business owner will be able to thrive.

Businesses that fail in the first year aren't really set out for it. If not why give up in the first place? I feel that any passionate entrepreneur will always find ways to keep building. The lack of passion and commitment is what makes them give up. Naturally this is their fault and not an external problem. Things like bad economy, unfriendly government policies can be fought if there was really a passion for the business. People lobby governments everyday. That's just how the world works. If a policy is not in the favour of your business then you lobby your way out. But simply giving up or not trying at all after failing is very bad. Businesses should really think it through how well they are prepared for any venture before starting.

This is my honest take on the topic and thank you very much for sharing this.