There are many more that are not listed, so if your interested, do a little more research.

1. Lack of planning: From conception, to business, to succession and all the changes in between. It is important for business owners to consider any partnerships and legalities when beginning a business. These can lead to costly mistakes if overlooked.

2. Leadership failure: Leadership takes a lot of different forms and poor leadership will lead to poor results.

3. Lack of focus: Without focus you begin to speak to everyone, and much like yelling in a crowded room, no one can hear you, so no one pays attention.

4. Lack of profitability: Being able to make money is one thing, but you must be careful to make more from your business than you are spending on your business.

5. Wrong partner: While friends are great for support, there are some people you just shouldn’t go into business with. Find people that share your passion and enthusiasm for the goals you’ve set and are willing to help you accomplish them.

6. Lack of exposure: Marketing is a vital part of any business. People can’t buy from you if they don’t know you exist. Having a great product isn’t enough, you must get it in from of the people.

Take a moment to discuss how each of these can affect a business and what are some ways avoid them.

Nice Post.

On Exposure of The Business and Product: A lot of work has to be done in promoting your business or product. Most businesses fail because of a lack of Customers and Clients. Advertising and Marketing must be daily and consistent thing. If Coca Cola and Pepsi can spend Millions of dollars on advertisement on TV and online every year, then you must not relent in marketing your product. Customers and Clients are the lifeline of a business. Advertise online e.g Facebook, Twitter, Nairaland, jiji.com etc. Print Flyers and Posters of your business and place them in strategic places in your area of operation. Approach Supermarkets and Shops with your product and strike deals with the owners. Select a Local Government Area and find ways to sell your product there for a Month. Then move to the next LGA. Make sure you spend a Month in each Local Government Area, sourcing for Customers and finding those who can sell your products. Then go from State to State, repeating the process. You won't breakthrough in a year. But you will surely succeed with these tips. .