Things to consider and look out for. Source.
Failure Factors
- Inefficient control over costs and quality of product
- Bad stock control
- Underpricing
- Bad customer relations
- Failure to promote and maintain positive image
- Bad relations with suppliers
- Inability to manage and make decisions quickly and act on them
- Failure to keep pace with respect to the competition as well as the industry
- Illness or loss of personnel
- Reluctance to seek professional assistance (i.e., CPA, lawyer, or insurance agent)
- Failure to minimize taxation through tax planning
- Inadequate insurance
- Loss of impetus sales
- Bad personnel relations
- Lack of experience
- Insufficient working capital
- Bad budgeting
Failure Factors
- Inefficient control over costs and quality of product
- Bad stock control
- Underpricing
- Bad customer relations
- Failure to promote and maintain positive image
- Bad relations with suppliers
- Inability to manage and make decisions quickly and act on them
- Failure to keep pace with respect to the competition as well as the industry
- Illness or loss of personnel
- Reluctance to seek professional assistance (i.e., CPA, lawyer, or insurance agent)
- Failure to minimize taxation through tax planning
- Inadequate insurance
- Loss of impetus sales
- Bad personnel relations
- Lack of experience
- Insufficient working capital
- Bad budgeting