Monday, June 30, 2014

Five Reasons 8 Out Of 10 Businesses Fail

From Forbes by:
Eric T. Wagner Contributor

Breaks my heart.

According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.

But why? What can we learn from the colossal amount of failure with small business that we can apply to our own business aspirations?

In my 30 plus years as a serial (yes – hate that word too) entrepreneur, and through my exposure to thousands of entrepreneurs via my company Mighty Wise Media, I have seen plenty.

And yes, at surface level the primary reason businesses fail is they simply run out of cash.

But trust me — the cracks in the foundation start well before the brutal day of financial collapse.

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