Why are the biggest reasons most businesses fail?
I'm thinking about opening a bar, a nightclub or just a grocery store but looking at the failure rate of new businesses in recent years is quite discouraging.
>Why are
I meant "what are", sorry.
The owner isnt intelligent and able enough.
>>1364474
Where ya from?
In my country it is too expensive to hire someone, opening a business is a bureaucratic nightmare, and fucking dindus always robbing the business...
timing and lack of competitive advantage
>>1364474
might be poor marketing, especially for a bar/night club. How are you planning on marketing your establishment that will make people want to come to it rather than the other bars/clubs that they have been to in the past?
>>1364484
Nigga you just described my country.
Brazil.
Doing like anyone else. Have you ever went for shoes OP? How many stores are exactly the same with the same shoes for the same prices? I'll tell you. Almost all of them. You have to take a risk to do something new. Most of the time, it will kill you. But if you succeed with it you'll be a happy man.
You also need to love to do what you do. If you start something because "It will make you a shitton of money" but you don't like to do it, you'll not succeed.
>>1364502
>You also need to love to do what you do. If you start something because "It will make you a shitton of money" but you don't like to do it, you'll not succeed.
What if i love money, is it motivation enough?
>>1364509
Most people who start a business love money.
>>1364494
This
Owner is inexperienced doesn't know how to sell a viable product to consumers.
Bad planning
no troll;
> OVERSPENDING (this includes overspending while setting up business, but also overpaying yourself while in business. dont fucking pay yourself if you are starting up a business and live like a peasant)
>> Retarded employees (and/or retarded employer)
>>> No USP/Draw/Edge (also bad promotions/marketing if it is needed)
>>>> Not willing to work hard (think 80 hour+ weeks for a long time)