5 Reasons Businesses Fail

Did you know that 90% of businesses go out of business within their first year?? Why do businesses fail in their firs year? This is a crazy statistic! 9 out of 10 businesses never make it! Family, Friends, and everyone will tell you not to start a business. I work with 1,000's of businesses and I know why businesses fail. Today, I am going to give you 5 reasons why businesses fail.
1. People start the wrong business idea. There is no opportunity for that type of business. It is oversaturated. There was no effort put forth on picking an opportunity instead of just an idea.
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2. People fail to prepare financially. They get emotional and quit their job instead of baring with it for 6 months saving up money to start and sustain their attempt to be successful.
3. Owners fail to focus on the sales aspect of their business. As a small business, sales is the only thing that matters. If you don't have a strategy for sales or how you are going to get customers you will go out of business faster than you got in. You are a salesman and an owner.
4. The owner forgot about profit. They started to see a little bit of success then spent all the money on new things. Their business died from expenses.
5. The owner failed to find a mentor. A mentor can help you avoid mistakes that you didn't even know existed.
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[@heroofguitar25]

I don't have any ideas, buy my product.

[@nate_indiana_jones]

You don’t have to buy anything. If you never want to get ahead assume you know everything….