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  • More
    • Home
    • About
    • Tax Services
      • Business Taxes
      • Personal Taxes
      • Payroll Services
      • Tax Planning
      • Tax Help
      • Tax Relief
      • NYC - NJ Accountant
    • Industries
      • Startups
      • Real Estate & Contractors
      • E-Commerce
      • Hair Salons
      • Interior Design
      • Restaurants and Bars
      • Law Firms & Attorneys
      • Wholesale / Distribution
      • Dental Practice
      • Freelancers
      • Non-Profit
      • Women In Business
    • Appointment
    • Contact Us
    • Other Services
      • Accounting
      • Business Plans
      • Internal Controls
      • Cash Management
    • Tax Organizer
    • Tax Problems
      • About Our Tax Help
      • IRS and State Audits
      • Delinquent Taxes
      • Unfiled Tax Returns
      • Garnishment, Lien & More
    • Tips
      • Success Tips
      • Management Success
      • Why Work With Accountant
      • Deductible Or Not?
      • IRS Tax Audit Triggers
      • Taxable Income or Not
      • Record Retention Guide
      • Why Businesses Fail
      • Missed Tax Deadlines
    • Blog
    • Tax Prep Appt
    • CFO Services
    • Event Registration
    • Accountant in NYC and NJ
    • Preferred Professionals
  • Home
  • About
  • Tax Services
    • Business Taxes
    • Personal Taxes
    • Payroll Services
    • Tax Planning
    • Tax Help
    • Tax Relief
    • NYC - NJ Accountant
  • Industries
    • Startups
    • Real Estate & Contractors
    • E-Commerce
    • Hair Salons
    • Interior Design
    • Restaurants and Bars
    • Law Firms & Attorneys
    • Wholesale / Distribution
    • Dental Practice
    • Freelancers
    • Non-Profit
    • Women In Business
  • Appointment
  • Contact Us
  • Other Services
    • Accounting
    • Business Plans
    • Internal Controls
    • Cash Management
  • Tax Organizer
  • Tax Problems
    • About Our Tax Help
    • IRS and State Audits
    • Delinquent Taxes
    • Unfiled Tax Returns
    • Garnishment, Lien & More
  • Tips
    • Success Tips
    • Management Success
    • Why Work With Accountant
    • Deductible Or Not?
    • IRS Tax Audit Triggers
    • Taxable Income or Not
    • Record Retention Guide
    • Why Businesses Fail
    • Missed Tax Deadlines
  • Blog
  • Tax Prep Appt
  • CFO Services
  • Event Registration
  • Accountant in NYC and NJ
  • Preferred Professionals

Why Businesses Fail?

Additional Information

8 Reasons Businesses Fail - Avoid these common pitfalls!

►Lacking demand or poor sales for your product or service. Just because you think your idea is wonderful might not be as well received by the public. You’ll need to do some repeated market testing to get your answer.


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►Poor pricing model.  If your gross profit margin is just too narrow it won’t deliver meaningful profitability. If you are competing with larger companies that price their merchandise low because they can take advantage of economies of scale, eg. reduced per unit costs due to buying in bulk – you’ll need to figure a way to match their prices and still make a profit. 


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►Rigid management style. Successful entrepreneurship is all about vision, flexibility and constant adjustment to new demands. Having set goals and a plan is critical to effective management.


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►Lack of experience. Just because you were good at your job, doesn’t guarantee your experience will transfer well into a business. Successful business owners are typically experienced not only in operational processes but in the art of business management, negotiations, and leadership skills.


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►Unexpected growth. If you haven’t prepared to meet unexpected demand you might just discover a rival waiting in the sideline to mobilize efforts and fill in for your inability to deliver goods or services. 


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►Poor accounting. If you don’t know the numbers or aren’t tracking your finances, we can almost predict your business is not going to make it any time soon.


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►No cash cushion. One thing we see repeatedly is the difficulty of trying to develop a business without any financial backing. If you are relying on cash strictly from sales, you might run out pretty quickly since businesses typically don’t generate enough money their first year in business. Successful entrepreneurs start businesses with enough cash to hold them over the first 6 months to a year.


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►Operational inefficiencies. Wasted space, underused equipment, obsolete inventory, and idle employees all contribute to financial stresses which small businesses cannot tolerate for too long.

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Accountants for Business Income Tax Filing | New York City & 10007 and Montclair, NJ 07042

  • Business Taxes
  • Personal Taxes
  • Payroll Services
  • Tax Planning
  • Tax Help
  • Tax Relief
  • NYC - NJ Accountant
  • Startups
  • Real Estate & Contractors
  • E-Commerce
  • Hair Salons
  • Interior Design
  • Restaurants and Bars
  • Law Firms & Attorneys
  • Wholesale / Distribution
  • Dental Practice
  • Freelancers
  • Non-Profit
  • Appointment
  • Accounting
  • Business Plans
  • Internal Controls
  • Cash Management
  • Tax Organizer
  • About Our Tax Help
  • IRS and State Audits
  • Delinquent Taxes
  • Unfiled Tax Returns
  • Garnishment, Lien & More
  • Success Tips
  • Management Success
  • Why Work With Accountant
  • Deductible Or Not?
  • IRS Tax Audit Triggers
  • Taxable Income or Not
  • Record Retention Guide
  • Why Businesses Fail
  • Missed Tax Deadlines
  • Accountant in NYC
  • Tax Prep Appt
  • CFO Services
  • Event Registration
  • Accountant in NYC and NJ
  • Preferred Professionals

OnPoint For Business! NYC & NJ Tax Accountants