The Top Reasons Businesses Fail

There are many reasons why businesses fail and often times it is the owner or management who contribute to the demise of the business. Many times the business is doomed before it even begins. Here are the top 12 reasons why they fail.

1 Going into business for the wrong reasons
2 Advice from family and friends
3 Being in the wrong place at the wrong time
4 Entrepreneur gets worn-out and/or underestimated the time requirements
5 Family pressure on time and money commitments
6 Pride
7 Lack of market awareness
8 The entrepreneur falls in love with the product/business
9 Lack of financial responsibility and awareness
10 Lack of a clear focus
11 Too much money
12 Optimistic/Realistic/Pessimistic