A survey by CB Insights has compiled ranges of study on businesses that failed. The report found 20 top reasons, naming absence of market, lack of capital and a startup team which did not fit for the job in the top three.
Whilst the report listed 20 reasons, I decided to only focus on 7 most deadly reasons you need to pay more attention to and how to overcome it:
- You start your business for the wrong reasons
- Poor Management
- Insufficient Capital
- Location. Location. Location.
- Lack of Planning
- No Website
- Final Two Cent