What are the things that kill a business so quickly?

[Min George]

There are things that happen in a business and it is inevitable the business won't be able to survive it. What are the things that should never happen in a business because it kills a business so quickly?

 

[eLdavis]

One of the things that kills a business quickly is giving out your services or products in credit to customers.

 

[King Belieal]

When a business doesn't secure the expensive equipment they use in their production and it gets stolen or lost, it is likely to close down.

 

[Kross]

One thing that I have seen kill businesses do quickly is the discounts and favors given to family and friends.

 

[Augusta]

Lack of proper funding. if you don't have the right funding for a business. it would die almost immediately as it needs money to run it effectively

 

[Tray59]

One thing that I have seen kill businesses do quickly is the discounts and favors given to family and friends.

Discount will never kill any business because before you run a discount you must run accessment to see if the discount you are about to make will affect the business, rather what I see which will affect business is debts too much debt affect business nagetivety

 

[Sanjeev]

I think the quality and the demand of the product and service are the two factors on which the business depends.

 

[oliver991]

A lot of great points here. I’d add one more that doesn’t get enough attention: legal trouble. One messy contract, a customer dispute, or a falling out with a partner can derail everything overnight, especially for small or new businesses.

If you're running a venture or thinking of starting one, it’s worth getting familiar with common business disputes so you’re not caught off guard. Prevention is way cheaper than damage control.

 

[Min George]

One government legislation that doesn't favour the business would lead to the total collapse of the business.

 

[pousinha]

Total lack of paying customers is the first mishap that kills a business as soon as it opens. The same total lack of knowledge about tax and financial laws.

 

[Augusta]

Not having a clear understanding of revenue, expenses, and financial goals can lead to poor decisions.
Ignoring financial statements:
Not tracking key financial metrics can mask problems and prevent timely corrective actions.