Lack of planning – Businesses fail because of the lack of short-term and long-term planning.
#Your plan should include where your business will be in the next few months to the next few years. The right plan will include specific to-do lists with dates and deadlines. Failure to plan will damage your business.
# Lack of capital – Lack of capital is an alarming sign. It shows that a business might not be able to pay its bills, loan, and other financial commitments. Lack of capital makes it difficult to grow the business .
#Poor management –, micro-managing – lack of trust, working without standard, poor communication, and lack of feedback.
#Poor location – If your business relies on foot traffic, location is a strategic necessity. A poor location might make your customer acquisition costs too high.
# Give it due time.
Ideas are fast, but will take time. Even if all goes well, almost everything you do in business will take longer than expected.