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1.02 Reasons for Business Failures

AB
No Market NeedFloppy Disks
Ran out of CashYou're broke
Not the right teamThe Olympic letdown of the 04 basketball team
Get OutcompetedYour rivals outworked & outsmarted you
Pricing / Cost IssuesWhat you charge and what you put into the product are off
User unfriendly producttoo difficult for average person to use
Product without a business modela detailed plan
Poor Marketingdid not promote or sell in the right place
Ignore CustomersDid not use feedback from the people that mattered
Product MistimedNew winter coat released in April
Lose FocusConcentrated on the wrong things
Disharmony among the investorsPeople providing money not happy
Pivot gone badSignificant change in your product that was mishandled
Lack PassionNot really enjoying or in to what you are doing
Failed Geographical ExpansionStayed too small when you should have grown the business
No financing or investor interestfailure to generate interest and funds
Legal ChallengesRegulations, guideline, policy red tape
Did not use networkRelied on yourself ONLY
Burn OutOverworked yourself
Failure to PivotDid not adjust to changes in the market



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