1. Lack of planning
  2. Leadership failure
  3. No differentiation
  4. Ignoring customer needs
  5. Inability to learn from failure
  6. Poor management
  7. Lack of capital
  8. Premature scaling
  9. Poor location
  10. Lack of profit
  11. Inadequate inventory management
  12. Poor financial management
  13. Lack of focus
  14. Personal use of business funds
  15. Overexpansion
  16. Macroeconomic factors
  17. No succession plan
  18. Wrong partner

  19. Make a plan

  20. Core values

  21. Mission statement

  22. Who are your customers

  23. What is your product/service

  24. Involve your customers in product development

  25. How will you sell and market your product/service

  26. In the end, enthusiasm is not enough to succeed

  27. You are accountable

  28. Write down your goals

  29. Build an advisory board

  30. Join a peer advisory group

  31. Find a coach

  32. Find an investor, an angel or venture capitalist

  33. Forget the idea, take action

  34. Believe that you can do it

  35. Reach out to mentors

  36. Minimize risk, but understand that it is unavoidable

  37. Give it due time

  38. Get others to believe in you

  39. Prepare to fail

  40. Pivot, rinse and repeat

  41. Focus on your customer

  42. Stay profitable

  43. Manage cash

  44. Get paid in advance, ask for deposits or full payment in advance

  45. Be very selective in offering credit to customers, avoid it if possible

  46. Increase your sales

  47. Offer incentives for early payment

  48. Secure loans for emergencies

  49. Disasters do happen

  50. If you will succeed in business, you must figure out how to deal with the unexpected