16. Your Business Model Doesn’t Make Money

Even a non-profit organization has to generate donations to make up for operating costs. If your product is free, or you keep losing money on every one, it will be hard to make it up in volume. Even if you are providing a very great solution, but if your customers have no money, your business won’t last long.

15. Your Idea has Limited Business Opportunity

Not every good idea is a good business. Entrepreneurs often overestimate the size of their potential market. Just because you believe that your idea is great, and everyone needs it, doesn’t mean that everyone will buy it. So instead of going with your instincts or asking your friends and family, you must do a thorough market research about the feasibility of your idea.

14. You Hire Someone You Know and Trust

Competence is more important than relationships. While hiring friends and relatives can work, it limits the talent and quality. Friends and relatives can also carry baggage. They can also be very hard to manage. So “if you can’t fire them, don’t hire them.”