7 reasons for failure from personal experiences and informal discussions.

 There are a list of 7 reasons for failure from personal experiences and informal discussions.

Reason No. (1) Failure to understand your market.

Reason No. (2) Failure to understand and communicate what you are selling.

Reason No. (3) Inadequate financing.

Reason No. (4) Failure to follow or update your technology methods.

Reason No. (5) Overdependence on a single customer.

Reason No. (6) Failure to define your product or service.

Reason No. (7) Weakness of management and decrease its skills.