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TWELVE Reasons Why Businesses Fail

  • Thomas Oppong
  • Apr 25, 2011
  • 1 minute read


I have signed up for a copy of the 7 Steps to Successful Startup by Naeem Zafar, a member of the faculty of Haas Business School at the University of California Berkeley. In this free guide Naeem shares insights and lessons learned starting and running companies. He served as the CEO of three Silicon Valley startups, raised over 70 million dollars in venture capital and helped create a company that went public and was later sold for over $150,000,000. These Reasons why businesses fail have been helpful. Hope you find them useful too. Share it with your friends who are CEO’s, business leaders and startup hopefuls.

  1. Solving a problem that most users are not willing to pay to solve your way
  2. Thinking that you can do it all by yourself (without a founding team)
  3. Lacking trust among team members—and not addressing the issue.
  4. Being overconfident or dogmatic and not questioning yourself.
  5. Lacking a crisp, singular focus—trying to be everything to everyone.
  6. Marketing myopia: not having the vision to anticipate changes in the marketplace.
  7. Confusing a hobby with a business.
  8. Pricing incorrectly and not knowing your real competition.
  9. Failing to properly define your market and customers.
  10. Not having enough cash or financial resources available.
  11. Focusing on a market segment too small to sustain you and the others in it.
  12. Starting a business for the wrong personal reasons
Thomas Oppong
Thomas Oppong

Founder at Alltopstartups and author of Working in The Gig Economy. His work has been featured at Forbes, Business Insider, Entrepreneur, and Inc. Magazine.

3 comments
  1. Avatar joy says:
    Jun 21, 2011 at 1:20 am

    wow , 12 reason , so many how to do it as simple way ?

Comments are closed.




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