Business is defined as any commercial activity engaged in by someone (an entrepreneur) having profit making and the creation of utility as it major objectives.

Obviously, the business world is growing rapidly on as the clock ticks away.
Many businesses are established every day and this is not in any way a bad trend because good business keeps the economy moving.

However, the main problem is not how to establish a business rather, the most important stage in business is sustainance stage because this stage determines the position of any business i.e, whether the established business will stand or crash.

It is no news that many entrepreneur keep suffering business failures and these failures results from avoidable errors in business. So what are those errors that wreck down new businesses?

1, Wrong choice of business is the first in my list. Granted, there are many business to choose from but the truth is you pick a business just because others are doing that particular business and making good money from it, your chances for success in that business is narrow.

2, inadequate planning can serious bring a business down. I tell you the truth today, to fail to plan in business and even life in general is not lack of PLAN but actually a delibrate plan to FAIL. Business planning is paramout so don't under estimate it.

3, Disregarding the importance of market research is another great error in business. Having a great and mind-blowing business idea is not equal to having a great business.
You need to have a good understanding who your buyers are, where to find them and how much they are willing to pay for your goods and services.

4, Thinking that you can do everything is a proof that you can do nothing. You need to engage capable hands in your business. However placing all your trust on people is a big business sin your must not comit.

5, Lastly, ignoring the business "know how" is harmful to your business success. If you are not an addicted researcher and a comitted learner, please don't go into business.

Thanks for your time and good luck!