Why do most people fail?

[Nomad]

According to studies, more than 50 percent people who start a business with a great enthusiasm fail within the first year, more than 50 percent of those who manage to remain afloat will shut down within 2 years and only around 8 percent businesses survive for a decade. Why do you think most people fail with business, what are the common reasons?

 

[eLdavis]

There are various reasons why most businesses fail, for some it is their inability to be consistent, while there are others who their reasons could be lack of funds.

 

[King Belieal]

It is mainly because faulty feasibility that people fail in business within the first year. Some also fail because they are weak mentally.

 

[Starmix]

I am happy that I surpassed the one-year business startup. There are reasons why many failed in their business. They lack planning and the right strategies. Some are not always consistent and lack patience.

 

[Kross]

I am happy that I surpassed the one-year business startup. There are reasons why many failed in their business. They lack planning and the right strategies. Some are not always consistent and lack patience.

There is still a long way to go dear. You might have surpassed that first year but the second and third years are always very pivotal.