5 Top Reasons Why Businesses Fail [INFOGRAPHIC]

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Everyone can open up a business, but not everyone can develop their business successfully. Have you ever wondered what someof the reasons for failure are?

Keep reading to learnfrom these mistakes!

5 Top Reasons Why Businesses Fail

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1. NO CONCRETE PLANNING

Many Entrepreneurs want to jump right in.They have no concrete plans (just ideas)& just go for it with their gut feeling. This wastes limited time, money & energy. Many mistakes are made that could have been mapped out first.

2. LACK OF KNOWLEDGE

Someone may be an expert in their field, butlack knowledge of all the many aspects ofrunning a business. Many people are unaware of how to market their business to reach their customers, network effectively, manage their income, ask for referrals, etc. It’s a LOT to learn!

3. LACK OF VISION

New Entrepreneurs may fail to plan for sustainable growth. Too much business quickly creates overwhelm at best & angry customers at worst. Too little means not enough income to survive or invest back for growth in marketing & more.

4. NOT GETTING HELP

It can be a challenge to ask for help. It’s easy to think that you can DIY your marketing with free or inexpensive tools. However, a business owner’s time & energy is a limited asset & should be invested wisely. Taking MANY hours to learn a simple task is costing you more than paying for help for a professional outcome.

5. TRYING TO DO TOO MUCH

One of the biggest mistakes is trying to build everything at once. You may thinkstarting big & trying to sell to everyone isthe fastest way to grow. This often backfireswith the basics left undone…leading to chaos.A better way is to Simplify. Build. Profit. Repeat.


For more tips, read “Beat the Statistics – Top 10 Reasons Why Most New Businesses Will Fail”. I’m ready to help when you’re ready to get help with your business planning & marketing.


PS - I know it’s easy to get overwhelmed by reading blog posts full of ideas, tactics and tools. Be honest...

  • How frustrated will you be trying to implement this on your own?
  • How much time will you waste if it's not your next best step?
  • Did you just take the time to read this but you won't make any changes?
  • Or are you ready to take a small next step to build your brand?
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To YOUR success,

Linda

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