{"id":3198,"date":"2020-02-26T08:10:30","date_gmt":"2020-02-26T08:10:30","guid":{"rendered":"http:\/\/berniewong.net\/?p=3198"},"modified":"2020-02-29T11:10:34","modified_gmt":"2020-02-29T11:10:34","slug":"top-5-reasons-why-businesses-fail-how-to-avoid-them","status":"publish","type":"post","link":"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/","title":{"rendered":"Top 5 Reasons Why Businesses Fail &#038; How to Avoid Them"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Twenty years ago, Netflix tried to sell their company to\nBlockbuster. But it was declined. In 2010, Blockbuster filed for bankruptcy. In\nthe same year, Toys R Us, the largest toy store chain in Amazon, closed all its\nonline stores. General Motors is a leader of car manufacturing for more than\n100 years. GM bail it out in 2009.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#There_are_lots_of_reasons_why_these_businesses_fail\" >There are lots of reasons why these businesses fail.<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Top_5_Reasons_Why_Businesses_Fail_What_To_Do\" >Top 5 Reasons Why Businesses Fail &amp; What To Do<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Lack_of_Vision\" >Lack of Vision<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#What_to_do_The_simplest_way_is_to_set_SMART_goals\" >What to do: The simplest way is to set SMART goals.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Need_for_a_Niche\" >Need for a Niche<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#What_to_do_Look_for_a_unique_selling_point_USP\" >What to do:&nbsp;Look for a unique selling point (USP).<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Strategy_Plan\" >Strategy Plan<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#What_to_do_Every_business_should_plan_its_strategy\" >What to do:&nbsp;Every business should plan its strategy.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Poor_Financial_Management\" >Poor Financial\nManagement<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#What_to_do_One_must_know_where_money_in_the_business_is_coming_from_and_going_to\" >What to do:&nbsp;One must know where money in the business is coming from and going to.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Low_Commitment\" >Low Commitment<\/a><ul class='ez-toc-list-level-5' ><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#What_to_do_A_company_must_listen_to_its_customers\" >What to do:&nbsp;A company must listen to its customers.<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"There_are_lots_of_reasons_why_these_businesses_fail\"><\/span>There are lots of reasons why these businesses fail. <span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">Some people succeed while others don&#8217;t. According to SmallBiz Trends, about&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/smallbiztrends.com\/2019\/03\/startup-statistics-small-business.html\" target=\"_blank\">44%<\/a>&nbsp;of new businesses failed within 5 years. Failure is a topic most entrepreneurs would rather avoid. But knowing the warning signs of business troubles can help all. By learning the reasons for business failures, one can try to avoid them and succeed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Top_5_Reasons_Why_Businesses_Fail_What_To_Do\"><\/span><strong>Top 5 Reasons Why Businesses Fail &amp; What To Do<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When we look at why businesses fail, we can see common issues over and over again. When getting ready to start a business, one must watch out these top 5 reasons for business failures.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Lack_of_Vision\"><\/span><strong>Lack of Vision<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Every leader needs a vision to lead the organization. Without it, the team may not agree on how to run the business. Such unresolved issues make a business continues to slip toward failure. Kodak dominated the photo film market for 20 years. One of its engineers invented the first digital camera in 1975. But the management didn&#8217;t launch it because they don&#8217;t have a vision on the digital revolution. In 2012, the company&#8217;s failure surprised many.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_do_The_simplest_way_is_to_set_SMART_goals\"><\/span><em>What to do:<\/em> The simplest way is to set SMART goals. <span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Think of what one wants to happen in the business five years from now. Create measurable steps with target dates to achieve the goals. Walt Disney&#8217;s vision is to create the happiest place on earth. From that vision, he maps out a timeline in adding digital attractions. Such vision guides the theme park to its success.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Need_for_a_Niche\"><\/span><strong>Need for a Niche<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A niche is a company&#8217;s area of specialization to attract a target market. A company wanting to attract everyone tends to end up attracting no one. This is one big reason why businesses fail. Most of the time, they slowly kill the business. Commodore Corp was a computer company for the masses in the 1980s. They didn&#8217;t care to advance their PC&#8217;s special features. This error led to the company closure in 1994.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_do_Look_for_a_unique_selling_point_USP\"><\/span><em>What to do:<\/em>&nbsp;Look for a unique selling point (USP). <span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>List the features and benefits of your brand. Identify what the competitors can&#8217;t imitate. Create a short phrase to communicate the value. In 1997, Apple reinforced its brand through the &#8220;Think Different&#8221; niche.  The company narrowed its market the well-off willing to pay extra for technology. Until now, they dominate the niche for premium users.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Strategy_Plan\"><\/span><strong>Strategy Plan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A business idea may be good. But one doesn&#8217;t have a plan to\nfollow, the chances of success decrease. Segway brought the motorized scooter\nto the market in 2001. Even though the concept was revolutionary, Segway didn&#8217;t\ncreate a plan on how to market it. Clients don&#8217;t know where to ride the\ntwo-wheeler. There were questions if it&#8217;s safe for street handling. The product\nended up in a failed inventions list.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_do_Every_business_should_plan_its_strategy\"><\/span> <em>What to do:<\/em>&nbsp;Every business should plan its strategy. <span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Outline steps one intends to do in marketing a brand. Create a chart of specific tasks, objectives, and deadlines. Tesla aims to mass-produce electric cars. They knew that batteries will be the biggest problem in their goal. They invested in factories that make batteries. Today, they have complete control of the batteries supply chain in the market. It&#8217;s one of the most brilliant plans they made.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Poor_Financial_Management\"><\/span><strong>Poor Financial\nManagement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">People started a business to make money. But poor cash flow\nmanagement leads to a failure path. There&#8217;s no point in increasing sales if\nthere are no extra funds to fulfill the orders. A company risks losing a\nsupplier because of late payments. Without extra cash for a new machine, a\ncompany missed the opportunity to innovate. Radio Shack was best known for\nsupplying the latest electronics in 1999. When the company entered e-commerce,\nits poor cash flow resulted in a lack of inventory. And customers sourced out\nto other suppliers. The company has thinned out since 2015.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_do_One_must_know_where_money_in_the_business_is_coming_from_and_going_to\"><\/span><em>What to do:<\/em>&nbsp;One must know where money in the business is coming from and going to.  <span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Create a budget and stick to it as much as possible. Set aside a reserve fund in case of a financial crisis or new investment. Slash unnecessary expenses. Microsoft&#8217;s greatest strength is maintaining free cash flow. They lower their accounts receivable balance and stretch accounts payable. No wonder, Bill Gates is one of the richest men in the world.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Low_Commitment\"><\/span><strong>Low Commitment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A business will fail if it didn&#8217;t commit to understanding\ncustomers. They should always look for ways to improve. In every relationship,\none has to invest time to make it work. Dell Hell is the best example of\nfailure due to a lack of commitment. In 2005, journalist Jeff Jarvis started\nthe blog to share his negative experience from Dell&#8217;s customer service team.\nThe negative publicity did a huge amount of damage to the company. Luckily,\nDell was quick enough to rethink their approach to better customer service.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_do_A_company_must_listen_to_its_customers\"><\/span><em>What to do:<\/em>&nbsp;A company must listen to its customers.  <span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Engage with them to know what they want. Look for new ways to serve clients and keep them. Keep an eye on the trending value of your target market. Zappos has a brand reputation for excellent customer service. They focus on doing the right thing for customers, however long it takes. This gives them an edge in the online retail industry.&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Starting a business is an exciting venture. Entrepreneurs\nmust understand that success depends on a clearly defined brand, careful\nplanning, and sound financial management. Take little steps to increase your\nchance of success.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Set SMART goals. <\/li><li>Discover your unique selling point. <\/li><li>Outline a marketing strategy. <\/li><li>Slash unnecessary expenses.<\/li><li>Look for ways to serve your client better.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Today, <a href=\"https:\/\/berniewong.net\/zh-hk\/\">\u6578\u78bc\u71df\u92b7<\/a> can help a company thrive in the competitive landscape. They help brands grow their reach at a lower cost. And they will provide your audience with the needed answers and encourage them to share it. <\/p>","protected":false},"excerpt":{"rendered":"<p>Twenty years ago, Netflix tried to sell their company to Blockbuster. But it was declined. In 2010, Blockbuster filed for bankruptcy. In the same year, Toys R Us, the largest toy store chain in Amazon, closed all its online stores. General Motors is a leader of car manufacturing for more than 100 years. GM bail [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[33],"tags":[42,41],"class_list":["post-3198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-trends","tag-bankruptcy","tag-why-businesses-fail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top 5 Reasons Why Businesses Fail &amp; How to Avoid Them<\/title>\n<meta name=\"description\" content=\"According to SmallBiz Trends, about 44% of new businesses failed within 5 years. By knowing the reasons why businesses fail, one can avoid them and succeed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/\" \/>\n<meta property=\"og:locale\" content=\"zh_HK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Reasons Why Businesses Fail &amp; How to Avoid Them\" \/>\n<meta property=\"og:description\" content=\"According to SmallBiz Trends, about 44% of new businesses failed within 5 years. By knowing the reasons why businesses fail, one can avoid them and succeed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/\" \/>\n<meta property=\"og:site_name\" content=\"Dr Bernie Wong - AI and Storytelling Trainer\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/fb.com\/hkbernieblog\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-26T08:10:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-29T11:10:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/berniewong.net\/wp-content\/uploads\/2020\/02\/Top-5-Reasons-Why-Businesses-Fail-How-to-Avoid-Them-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dr Bernie Wong Kai Leong\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@hkbernie\" \/>\n<meta name=\"twitter:site\" content=\"@hkbernie\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr Bernie Wong Kai Leong\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9810\u8a08\u95b1\u8b80\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 \u5206\u9418\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Top 5 Reasons Why Businesses Fail & How to Avoid Them","description":"According to SmallBiz Trends, about 44% of new businesses failed within 5 years. By knowing the reasons why businesses fail, one can avoid them and succeed.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/","og_locale":"zh_HK","og_type":"article","og_title":"Top 5 Reasons Why Businesses Fail & How to Avoid Them","og_description":"According to SmallBiz Trends, about 44% of new businesses failed within 5 years. By knowing the reasons why businesses fail, one can avoid them and succeed.","og_url":"https:\/\/berniewong.net\/zh-hk\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/","og_site_name":"Dr Bernie Wong - AI and Storytelling Trainer","article_publisher":"https:\/\/fb.com\/hkbernieblog","article_published_time":"2020-02-26T08:10:30+00:00","article_modified_time":"2020-02-29T11:10:34+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/berniewong.net\/wp-content\/uploads\/2020\/02\/Top-5-Reasons-Why-Businesses-Fail-How-to-Avoid-Them-2.png","type":"image\/png"}],"author":"Dr Bernie Wong Kai Leong","twitter_card":"summary_large_image","twitter_creator":"@hkbernie","twitter_site":"@hkbernie","twitter_misc":{"\u4f5c\u8005":"Dr Bernie Wong Kai Leong","\u9810\u8a08\u95b1\u8b80\u6642\u9593":"5 \u5206\u9418"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#article","isPartOf":{"@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/"},"author":{"name":"Dr Bernie Wong Kai Leong","@id":"https:\/\/berniewong.net\/#\/schema\/person\/078b4cae4b73a2f6b45cc6206801f153"},"headline":"Top 5 Reasons Why Businesses Fail &#038; How to Avoid Them","datePublished":"2020-02-26T08:10:30+00:00","dateModified":"2020-02-29T11:10:34+00:00","mainEntityOfPage":{"@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/"},"wordCount":1054,"commentCount":0,"image":{"@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#primaryimage"},"thumbnailUrl":"https:\/\/berniewong.net\/wp-content\/uploads\/2020\/02\/Top-5-Reasons-Why-Businesses-Fail-How-to-Avoid-Them-2.png","keywords":["Bankruptcy","Why Businesses Fail"],"articleSection":["Business Trends"],"inLanguage":"zh-HK","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/","url":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/","name":"Top 5 Reasons Why Businesses Fail & How to Avoid Them","isPartOf":{"@id":"https:\/\/berniewong.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#primaryimage"},"image":{"@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#primaryimage"},"thumbnailUrl":"https:\/\/berniewong.net\/wp-content\/uploads\/2020\/02\/Top-5-Reasons-Why-Businesses-Fail-How-to-Avoid-Them-2.png","datePublished":"2020-02-26T08:10:30+00:00","dateModified":"2020-02-29T11:10:34+00:00","author":{"@id":"https:\/\/berniewong.net\/#\/schema\/person\/078b4cae4b73a2f6b45cc6206801f153"},"description":"According to SmallBiz Trends, about 44% of new businesses failed within 5 years. By knowing the reasons why businesses fail, one can avoid them and succeed.","breadcrumb":{"@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#breadcrumb"},"inLanguage":"zh-HK","potentialAction":[{"@type":"ReadAction","target":["https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/"]}]},{"@type":"ImageObject","inLanguage":"zh-HK","@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#primaryimage","url":"https:\/\/berniewong.net\/wp-content\/uploads\/2020\/02\/Top-5-Reasons-Why-Businesses-Fail-How-to-Avoid-Them-2.png","contentUrl":"https:\/\/berniewong.net\/wp-content\/uploads\/2020\/02\/Top-5-Reasons-Why-Businesses-Fail-How-to-Avoid-Them-2.png","width":1200,"height":628,"caption":"Why Businesses Fail"},{"@type":"BreadcrumbList","@id":"https:\/\/berniewong.net\/top-5-reasons-why-businesses-fail-how-to-avoid-them\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/berniewong.net\/"},{"@type":"ListItem","position":2,"name":"Top 5 Reasons Why Businesses Fail &#038; How to Avoid Them"}]},{"@type":"WebSite","@id":"https:\/\/berniewong.net\/#website","url":"https:\/\/berniewong.net\/","name":"\u9ec3\u555f\u4eae\u535a\u58eb","description":"AI, storytelling, branding and digital marketing training in Hong Kong and across Asia","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/berniewong.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"zh-HK"},{"@type":"Person","@id":"https:\/\/berniewong.net\/#\/schema\/person\/078b4cae4b73a2f6b45cc6206801f153","name":"\u9ec3\u555f\u4eae\u535a\u58eb\uff08Dr Bernie Wong Kai Leong\uff09","image":{"@type":"ImageObject","inLanguage":"zh-HK","@id":"https:\/\/secure.gravatar.com\/avatar\/ca821d40210fe9d0b7643f6cd427d32502b7eb188e8c33ae9fb10f45d77a145b?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ca821d40210fe9d0b7643f6cd427d32502b7eb188e8c33ae9fb10f45d77a145b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ca821d40210fe9d0b7643f6cd427d32502b7eb188e8c33ae9fb10f45d77a145b?s=96&d=mm&r=g","caption":"Dr Bernie Wong Kai Leong"},"description":"Hong Kong-based AI and storytelling trainer, digital marketing speaker, consultant and educator.","sameAs":["https:\/\/berniewong.net"],"url":"https:\/\/berniewong.net\/zh-hk\/author\/berniewong\/"}]}},"_links":{"self":[{"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/posts\/3198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/comments?post=3198"}],"version-history":[{"count":0,"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/posts\/3198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/media\/3229"}],"wp:attachment":[{"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/media?parent=3198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/categories?post=3198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/berniewong.net\/zh-hk\/wp-json\/wp\/v2\/tags?post=3198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}