7 Reasons Businesses Fail

[JasonKiesau]

As it is extremely important to pay attention to all the great things small business owners do that lead them to success, I feel it can be equally beneficial to understand the reasons businesses fail.

I came across a piece by Patricia Schaefer on the website BusinessKnowHow.com that gives 7 reasons businesses fail.

1. You Start Your Business for the Wrong Reasons
2. Poor Management
3. Insufficient Capital
4. Location, Location, Location
5. Lack of Planning
6. Over Expansion
7. No Website

In a world where we can get pulled in hundreds of different directions, it’s important to know how we can fail as much as it is to know how we can succeed.