1. Inadequate Marketing
- No “Best Buyer” approach
- No social media, mobile, or internet presence
- Not establishing a brand that resonates with buyers
- Poor or No marketing plan
- No referral system
- Not understanding their market
2. Wearing too many hats
- Working in their business not on it
- Trying to be all things
- Poor delegation
- No be able consult with top managers
3. Poor strategy
- Poor or Lack of a business plan
- Not having policies, procedures or systems in place to track and modify
- Poor or No execution
- Not understanding internal and external environments in the business climate
4. Finance
- Not having enough capital or understanding cash flow
- Not allocating proper resources for market research and development
- Not understand or implementing tax strategies.
- Lowering prices to increase revenues
5. Competition
- Not knowing their true competitors
- Not knowing how their completion does business
- Understanding how the industry affects their competition
- Not leveraging competitor assets
