“Failure is simply an opportunity begin again but this time more intelligently….” – Henry Ford. I evoked this deep rooted message because after working for more than a decade as a business coach, consultant and a success catalyst for SME & NSME sectors’ entrepreneurs, I have seen many of them failing partially or completely. I always wondered that many people start their ventures at same time, with same knowledge and with same resources but some of them flourishes like anything and some of them vanishes in a very bad way; so what was the reason behind this? After the in depth study, detail research, field studies and intense brain storming has led to identify 15 reasons why any business fails. Following are the reasons to be understood, to be pondered about and thereby turn around the situation.
Being an entrepreneur if you are facing challenges or struggling somewhere then focus on above mentioned 15 reasons – whether knowingly or unknowingly you are victim of either of above listed reasons. If yes, then start working on them strategically. If you want to know more about this or want to discuss on any of your challenges related to above listed reasons then you can post your questions in the comment below this article; we will get back to you with solutions.