5 Reasons why entrepreneurs fail in business

There could be a whole variety of different reasons as to why entrepreneurs fail in business, but here are 5 common ones:Wrong pricing. Meaning that you are pricing things either too highly or not high enough.  When price things too high, then people do not see it as value for money, where as often, being too cheap can result in people thinking that it is not worth it. More often than not, it is because you are priced too high and you cannot justify the price- whether through trust, branding, reputation, etc. You want don't want to compete with other businesses to be the cheapest, but instead, you want to be compete to the best and most expensive- therefore, you are the one providing the most amount of value.Bad timing. Your business can suffer if you entered the market at the wrong time- meaning, that if you entered the market either too early or too late, then your business will flop. You need to find the inflection point (the point of mass adoption) and start your business as close as possible to that. For example: social medias were around in the late 1990's and the ealry 2000's, but it was not until MySpace that they started to see some traction, but it was not until Faebook started to gain mass appeal and popularity did it start to go mainstream. People, come 2008, were all talking about social media and joining one or another, they were mostly joining Facebook, simply because "that is the one everybody is one", and that is hard to plan and coordinate.Bad business model. Often, your business model and what you are selling can be bad or not very optimized. Bad marketing. When you fail to grab attention and/or trust, then your business can flounder. If no one knows you exist, then no one is going to bother. If people know you exist, but do not buy from you, then you may have a trust problem. Lose passion/interest. You can start a business thinking that you will love it for ever, but over time you can loose interest in it for one reason or another. This happened to me in my first business as I launched it but over time lost interest in the product and sector. I tried to pivot, but ultimately the idea fizzled out and lost momentum, after which I started something else.Question of the day: which of these do you think you are at risk of?My Answer: for my 2nd business, it is definately the 3rd one, because not everyone knows or undersrtands what I am selling, as I suspect I am too ealry to the market.Read my book: 101 Entrepreneur Mistakes and Lessons.Learn more about me: https://www.nantchev.com/Subscribe to me on Youtube: youtube.com/nantchevFollow me on Instagram: https://www.instagram.com/adriannantchev/