Why do many Home Based Businesses Fail?
On this website we will have a high note to set your expectations on the kind of content you should expect from this site. They say 90% of all new businesses (online and offline) fail before they can celebrate their 5th year. Since I have had the unique opportunity to follow most of the people that I have helped starting their businesses for many years, I think there are some things I need to set clear regarding what could make it hard for you to stick to your business for that long to see the fruits of your labor. That’s why we will be discussing some of the top reasons why home-based companies fail to take off.
A quick search/survey online and offline will help you understand the rate at which home based businesses fail. You could just ask your friends online, and offline just how many of them have tried their hand in working from home then ask how many of them can consider themselves successful at it. Your findings will reveal that there are more failed home-based businesses than successful ones. Some reasons are responsible for the high rate of unsuccessful home-based companies. Most times, you hear people attribute these failures to minor issues such as low capital, poor marketing strategies, lousy customer relationship, and lack of dedication on the part of the businesses owners. While these can sometimes lead to the failure of home-based businesses, they are not the main reasons why home based businesses fail.
In many other articles on this site, we will discuss some of the main reasons why most home-based businesses never last long enough to bring in the desired financial fortunes to their founders and possible steps you could take to fix such problems when they surface.