Why a Business Might Fail

So many people want their own business than many go into it without preparation and knowledge of what it really takes to be successful. It's more than just a great new idea and hard work. Here are some reasons why a new or existing business can fail.

*Poor customer care
*Insuffient marketing
*Owner attitude
*Poor employee training
*Poor employee supervision
*Excessive spending
*Lack of business knowledge
*Owner Neglect
*Excessive salaries
*Obsolete products or services
*Ownership change
*No cash reserve
*Out-of-line pricing
*Loss of a big account
*Inadequate product mix
*Tax problems
*Loss of vision and goals

You will notice that competition and economic conditions are not on the list because they are normal situations that ever business faces.
More on keeping your business alive and well in chapter 18 of my book "90 Days to Success as a Small Business Owner"