Most small business entrepreneur’s fail to recognize the perils of owning their own business. Changing lifestyles and demographics of society can affect sales and marketing. Poor choices in location, inventory, management, strategy and lack of capital can stop a business cold before it gets started.
In addition, lack of proper planning can bring a business down quickly. Again, I have to mention the business plan. It is so important to the success and day to day operation of your business. If you do not plan properly in analysis of your competition, invest in poor marketing and advertising, or over expand too quickly, your business will not be successful and fail quickly.