Even though it seems like everybody is #winning with their business, the harsh reality is that most businesses fail (and a very high number in the first year). Another large segment are in zombie mode, they are basically dead but still limping along due to the sheer force of the entrepreneur who refuses to let it die. In this episode, I cover 10 reasons on why and if any of these currently apply to you, it could be exactly what you need to hear to change course and save your business from becoming a statistic.
02:17 Today’s episode talks about the reasons why start-ups fail or don’t grow
03:05 Failure of a business
04:00 Ten common things that entrepreneurs do that contribute to failing
04:25 1. Trying to do too much
07:42 2. Hiring too fast and too many people
10:10 3. Buying or spending too much
12:49 4. Staying in your box
15:27 5. You create unscalable processes in your business and you try to scale too fast
18:23 6. Relying on partners too much
21:59 7. Not paying your taxes
23:00 8. Not listening to your customers and falling in love with your idea
26:30 9. Not focusing on profitability and profit
30:37 10. Giving up too soon
Thanks for listening and checking out the show notes, any feedback, comments, or questions, send me an email at david@techsmartboss.com
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