Why Small Businesses Fail?
November 10, 2009 at 7:56 pm Leave a comment
I asked this question this morning on Twitter and the replies were fantastic. Here they are:
1. @TanyaGeisler: I think Gerber (E-myth) explains it best…most business owners are working IN their business not ON their business.
2. @jeffparks: Doing the work to understand if the community values their ideas / products / services as much as they do.
3. @Cg6Inc: You need to fail to succeed
4. @skanwar: They take their core competency for granted.
5. @nav_een: They don’t have a solid business plan/model (but that applies to any business type)
6. @davegray: Lack of customers
7. @markeelliott: The biggest reason start-ups fail is lack of revenue from poor sales planning and execution.
8. @ethnicomm: They don’t have any idea on how to take it from an idea to something that generates cash flow.
9. @AlexIkonn: Lack of support and not feeling connected to a community.
10. @AKthe5th: of knowledge in the sales process. just because you do something well, doesnt mean you know how to sell that to clients!
11. @TraderZed: Super Mario Bros. fail? Because they don’t give the Princess any attention, therefore, she’s constantly snatched by Bowser.
12. @tukutela: too high expectations from the founders
13.@THE_REFINERY: Owners go into business thinking things will be different for them, and realize how much work it really is. Also, entrepreneurs need to have a lot of faith in themselves when others are skeptical – takes a lot of confidence.
14. @todd_herman: poor positioning in the marketplace and marketing
15. @jamiekalynuik: people focus more on creativity than strategy.
Here are some other great articles about why Small Businesses fail:
– According to the Small Business Administration, two-thirds of new businesses survive for at least two years, and only 44 percent survive at least four years
– Get a Mentor to help You Build a Successful Small Business
Entry filed under: entrepreneur, small business, small business tips.
Renée Warren's Blog 
Trackback this post | Subscribe to the comments via RSS Feed