Top 6 reasons why your Kenyan business will fail

According to an article by Investopidea only 25% of businesses survive the 15 year mark which is a rather interesting finding considering how many businesses are started every year.

This poses the question, why do most Kenyan businesses fail?

The Business Does Not Meet A Need

One of the biggest reasons businesses fail is because they don't solve a problem. The business may be solving an issue that no one has, or it may not be solving it in the right way.

For example if an individual decides to open an mpesa stall next to a Safaricom shop , the probability of their business thriving reduces unless they offer something more such as having a canteen that sells a variety of items that a passerby might need.

If you make your business about serving others you will always be in business.-Chris Guillebeau

Poor Planning and Organization

One of the most important aspects of business success  is planning and organization. One of the most efficient ways to plan and organize your business is by implementing a CRM.

CRM software provides numerous benefits to businesses of all sizes. For example, it can help you increase sales and improve customer satisfaction through increased customer loyalty, retention, and profitability; it can also boost productivity by allowing your employees to work more efficiently. Ultimately, the best CRM solution such as Hello Duty is one that helps you achieve a high level of customer experience with the goal of creating brand advocates who encourage others to use your products or services.

By tracking all aspects of your customers' interactions with your business —from initial contact through repeat purchases—HelloDuty allows you to gain valuable insight into their preferences and needs so that you can provide them with better products or services in the future. By measuring these activities against each other throughout time (and aggregating them across multiple channels),HelloDuty provides a wealth of information about what works well for particular audiences and how different types of marketing campaigns impact overall performance metrics such as revenue generated per sale or number sold over time period specified when viewing reports within user interface .

No Capital

When you're starting out, you don't need much capital to get going. In fact, it can be a huge mistake to start with too much capital. Start small and grow your business as you go along.

If you want to raise the funds needed for your business, there are many options available to you:

• Personal savings (the easiest option)
• Family and friends (harder but better)
• Government programs and grants (hardest)

No Market For the Product

If you don’t have a market for your product, you will not be able to sell it. If there is no one who wants what you are offering, then it doesn’t matter how hard you work or how much money you spend on advertising and marketing. You need to do some research first in order to find out if there are people who want what you are selling. You can do this by doing market research and talking to people.

Too Much Pride To Ask For Help And Guidance

Learning from others is one of the best ways to avoid mistakes and get advice. It allows you to find out how other businesses are doing things, and see what's working for them.

You can learn a lot by talking with people who know more than you do in your industry. Ask questions, listen carefully and take notes of interesting information they share with you. Don't be afraid to ask questions that may seem stupid or obvious; these are often the most informative!

Lack of Passion

Passion is the fuel of your business and life. If you don’t have passion, you won’t succeed.

Passion is what drives us to be creative, to try new things and to keep going even when we want to give up. It keeps us motivated through difficult times and gives us the energy that can propel us forward when we need it most.

If you don’t love what you do, then why do it? The answer should be obvious: because someone has convinced you that they will pay well for what they want done—and not because it fulfills any need within yourself or society at large.

We all know someone who seems successful but doesn't seem happy doing what he does for a living; he just gets paid by doing a job no one else wants (or does very poorly). Maybe this person has had some success using his or her technical skills in some area related to computers but doesn't really enjoy working with them every day; if so then their enthusiasm flags over time as work becomes routine instead of exciting.

Conclusion‍

27% of businesses in Africa have one unified CRM system for their entire organization. Make your organization a part of this percentage by deploying HelloDuty as your CRM today.

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