Ask HN: Why Did Your Business Fail? • Hacker News Board

Re: Ask HN: Why Did Your Business Fail?

#11

Post by m33k44 » Thu, Feb 21, 2019, 11:39 AM UTC

Opportunity007 wrote: post #5

My business failed because I’m unintelligent, lack business acumen and do not have a good network.

> My business failed because I’m unintelligent

If that is the case then every successful business person should be categorised as "unintelligent"! Most of the successful business people have failed in their first attempt.

> lack business acumen and do not have a good network.

This could be the real reason. And it can be built with little bit of effort.

Re: Ask HN: Why Did Your Business Fail?

#12

Post by usgroup » Thu, Feb 21, 2019, 1:00 PM UTC

FaisalAbid wrote: post #10

Opportunity007 wrote: post #5

My business failed because I’m unintelligent, lack business acumen and do not have a good network.

This is false. It's not about being intelligent, it's about being resilient and open to learning. Everything starts with 0, and everyone can learn. I'd be happy to chat with you 1-1 and talk you through this.

Defs agree. I run my own business and work with other business all the time.

The secret sauce formula is rarely heavily weighted towards general intelligence.

All the dumb things will kill your business way before you have to be the smartest guy in the room . And I think that’s probably true for most the super competitive businesses too.

Re: Ask HN: Why Did Your Business Fail?

#13

Post by AwesomeFaic » Fri, Feb 22, 2019, 2:40 PM UTC

Digital marketing + website development. I wasn't aggressive enough with acquiring new clients and went for too much low hanging fruit (people seeking my services but unable to pay standard rates). I'd spend too much time working to pay bills and didn't have enough time to hunt for new, most financially stable, clients. Voluntarily terminated the business after 15 months to join a digital agency.