Making sure your business performs at the best of its ability is necessary whether one intends to sell or continue to operate.
Michelle has a full presentation dealing exclusively with this question.
Below is some of her remarks:
There are many reasons why businesses fail and often times it is the owner or management who contribute to the demise of the business. Many times the business is doomed before it even begins. Here are the top 12 reasons why they fail.
| 1 | Going into business for the wrong reasons |
| 2 | Advice from family and friends |
| 3 | Being in the wrong place at the wrong time |
| 4 | Entrepreneur gets worn-out and/or underestimated the time requirements |
| 5 | Family pressure on time and money commitments |
| 6 | Pride |
| 7 | Lack of market awareness |
| 8 | The entrepreneur falls in love with the product/business |
| 9 | Lack of financial responsibility and awareness |
| 10 | Lack of a clear focus |
| 11 | Too much money |
| 12 | Optimistic/Realistic/Pessimistic |