- Inappropriate business management and technical skills (adaptable to changing customer needs).
- Inadequate financing
- Start-up
- Operating
- Expansion capital
- Personal expenses 3.Lack of proper record keeping
- Use of records for sound decision making
- Little understanding of accounting records 4.Improper costing and pricing
- Retail
- Manufacturing
- Service business
- Direct costs
- Indirect cost
- Incompetent employees
- Lack of motivation
- Poor pay
- Unskillful
- Job not marching skill
- Employment of relatives
- Inaccurate recruitment procedures
- Training and development
- Clear job description
- Neglecting customers
- Customer centered organization
- Exceed customer expectations
- Survey customer satisfaction
- Provide avenue for resolving customer issues
- Prompt service and resolution to customer
- Customer friendly terms
- Ignoring competition
- Know your competitors
- Know your position in regard to your competitor
- Know the competitors strategies
- Note direct, indirect and future competitors
- Coping strategies
- Neglecting suppliers
- Make prompt payments
- Develop good relationship with suppliers
- Adequate time to supply