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The failure rate for a small business is high. In fact, only around half of them make it to year 5.
In this video, Dan runs through some of the key reasons why businesses fail. There is a follow up video on what you can do about avoiding them!
Topics include:
Sales for a small business
Pricing for a small business
Gross profit
Cashflow planning
Balance Sheets
Profit and Loss reports
Owners drawings
Owners / Directors Pay
Business growth challenges
00:00 Intro
00:31 Main reason they fail
01:03 Reason 1
03:01 Reason 2
04:59 Reason 3
06:43 Summary
… and more!
If you have any questions on this, please comment below.
Follow up video: • 3 SIMPLE TIPS TO AVOID...
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