15 Reasons Why Businesses Fail

[@alux]

Hello Aluxers, special thanks to everyone who's supporting the channel, this video is per your request! Video Notes: www.alux.com/reasons-businesses-fail/ Get a free audiobook: www.alux.com/freebook (Courtesy of Audible) Get access to the shopify academy: www.alux.com/shopifyacademy Listen as Podcast: www.alux.com/podcast

[@syedzeeshanahmad4998]

Hey Alux , where is our Sunday motivational video? I have a video recommendation - 15 things you didn't know about Network Marketing.

[@ThePresentation010]

I watch these on mute. Cuz that bitchs voice is annoying as hell now. Imagine listening to one voice/song for life.

[@ThePresentation010]

@SELF HELP fuck that. No one cares. Why ppl keep tryin to suck him. Ppl be makin books and movies bout him, no one buys, no one cares.

[@meetnagadia7853]

FREE #TRUEALUXERS

[@TomikaKelly]

Alux, I LOVE your videos! 💝 Can you create a reading list of ALL of your recommended books from your videos? #TrueAluxer

[@sifaeljoseph7473]

"Birds born in a cage think flying is an illness" I like this Quote.

[@hqgames9316]

sifael joseph can I copy paste this, master?

[@sifaeljoseph7473]

@@hqgames9316 Yes.

[@libanalasow6240]

Yeah

[@clintonnickens1004]

WORD!!!!! That's why poor people think that being poor is a blessing and riches are evil.

[@galecadornigara473]

1. no competitive advantage (1:20) 2. no strategy (3:27) 3. poor understanding of market needs (4:20) 4.wrong partners (5:28) 5.lack of business acumen (5:37) 6. lack of vision (5:33) 7. micromanaging (9:09) 8. not hiring the right people (10:15) 9. lack of capital (11:59) 10. scaling too fast (13:36) 11. not adapting quick enough (15:36) 12. Inability to sell (17:03) 13 trying to do so many things at once (18:03) 14 failure to use the resources at hand (19: 11) 15 lack of passion for the business (20:31)

[@Rin-le7cx]

Alux I started my business June 2018. No customers for 6 mos. Starting January 2019 clients started coming in. Never been so happy. 😍😍 im going to make this successful!!! 😘

[@prathamrawal5757]

Hey rin whats your business. Just curious

[@Rin-le7cx]

Pratham Rawal homemade cosmetics. Online business only.

[@prathamrawal5757]

@@Rin-le7cx cool keep it up

[@Rin-le7cx]

Feroz thanks. 😘

[@stratost371]

best wishes! good luck!!!

[@Puzzoozoo]

"Always keep the customer in mind", that is unless you are EA Games, Activision, Lucasfilm, Disney ...

[@Rin-le7cx]

The hardest part for me was doubt/fear. So I watch ur video bout 10 things poor people do that thr rich dont many many times. I eveb saved it and listen to it on the way to ny office and back. And finally found my courage to resign and do it. The best decision I ever did!! 😍

[@adventures223]

Like the quote says all your dreams are on the other side of fear

[@longmandavid5224]

A satisfied Customer is the best Business strategy of all Thanks so much From south India

[@parshu199]

LONGMAN DAVID it’s not a fucking email no one gives a shit were u r from

[@gabrieljackson8065]

In my opinion, Afraid to quit your job and start a business? That's acute awareness; keep your day job to make sure that your bills are being paid; while you get your business up and running, is a failsafe option. Once your soaring like an eagle....? Stay committed, things'll come together like a ripleys sandwich! Alux is a great momentum mentor!

[@emilegouba7817]

" billionair monday " it says in the beginning btw

[@eloncamus7968]

ikr had to double check

[@kingech_B15]

had to check my calendar

[@lancer_2146]

I think the editor was THAT tired xD

[@aussiezambarau]

I want to make it as a KZbin and Voice Actress, and I remember Voice Actor "Steven Blum", who has been in the voice acting Business for over three decades, also say that you should only do a career because you love it. Money, Fame, nor Awards shouldn't be your top motivation. They should only be a bonus. (I paraphrased this from an article he wrote for his site, though I don't know if it's still there. I read it back in 2013) Recently, Steven Blum was part of the cast of the movie "Bumblebee", which single handedly saved the Transformers franchise because Director Travis Knight took the movie back to the show's 1980's origin. One goal I sort of made for myself was: If I ever became a Voice Actress, I wanted to someday play for one of the Transformers shows.

[@gerardodiaz9242]

For my business, I noticed that I'm having a hard time with my follow up and conversions. I am using a CRM and would like to automate it as much as possible

[@Phobos11]

Hola! What CRM are you using? Most provide some level of automation.

[@libanalasow6240]

97

[@TomikaKelly]

Alux, I LOVE your videos. Can you create a reading list of ALL of your recommended books? #1-3 are CRUCIAL!

[@JamesHollowayYT]

Think and Grow Rich, The Book on Rental Properties by Brandon Turner, AND You're A Badass at making money :)

[@adventures223]

Why most small businesses fail and what to do about it by Michael Gerber

[@rohithjain3196]

It's always the right time when alux uploads a vid when I really need it

[@alux]

Happy to be here for you Rohith

[@samuelsofa]

More behind the scenes content would be great! It’s would be so interesting to see the people behind this company and channel.

[@leizylromero]

Starbucks is a last resort. Real foodies don't go there. You have a stronger competitive advantage if you know who you are selling to.

[@queeniecc6262]

Free - this one was great. Really hit home with why my first business failed. Took me 10 years to get the courage to try again.

[@yugvirsingh3776]

Thank You Alex for Guiding New Entrepreneurs. Thanks a ton for guiding me such crucial information. I have started making notes of your videos. And these are really helpful to me and for my business.

[@mohdfaraz4324]

Plzzzz make a detailed analysis video of IMPORT AND EXPORT BUSINESS And how can I someone start it??????

[@kalashchangal170]

I think you should opt for online courses on udemy or coursera those will be much detailed and worth investing your time in. Not to mention they are very useful sources to learn

[@kalashchangal170]

Udemy has various courses related to import export businesses entrepreneurship finance etc go check them out

[@cencerone]

Making a effective operational plan is something I had to learn more about. Business plans are a great start, but when your fully funded a operational plan is needed.

[@rohanjansen4536]

Hey alux, for future videos I'd like to learn how to do marketing. Great video this Sunday 👍👍

[@muhammadtalhakhan8714]

Title... 15 greatest marketing strategies of the 21st century.

[@BusinessAndInvestment1127]

I downloaded most of the videos and listened to it when offline. I learned a lot because of you ALUX... Thank you so much.

[@thebasicquestion2853]

Your videos are a great inspiration for me. I have watched many and listened as well. Thank you very much.

[@peanutbutterisfu]

Many businesses are too focused on making money today and not tomorrow. When they make deals they don’t make sure they have an exit strategy for the deals they do or the equipment/property they buy. Then when the economy goes to shit and we hit a recession which usually happens every 10 years the company can’t hold on and they go under. You have to think about stuff like this so your business can survive in hard times. For instance my father-in-law has a big excavation business that he started when the country was in a recession he noticed all the companies that were failing had too much debt and that was the reason they couldn’t stay in business during hard times so he grew his business slower he would buy one piece of equipment at a time and pay it off before buying another one and he rented equipment when he needed to. Then the 2008 market crash happened, he owned all of his equipment so the banks couldn’t take anything from him but his problem was a few years prior to the crash he started doing work for only one company because they had so much work for him it was much easier for him to just do their work well that company was building new houses he went from digging 250 basements a year to 20. All of his other customers were using other companies because he stopped doing for them. Well now he diversified himself so now he does a little work for everyone not a lot for one company/person. I’m not saying you can’t take on debt for your business but you need to be smart about it. You need to know your numbers and know them very well so if you do have debt you need to know you can manage in hard times don’t make emotional decisions make business decisions. Some times your better off not owning the property for instance if your growing and opening more locations it can make more sense to lease because if that location isn’t making money you can just close it. Most people that just start out think they need to buy the property, they focus on everything other than being profitable.

[@amLaye]

I made most of mistakes listed here but being with the wrong partner definitely nailed it for me

[@Phobos11]

No. 16 was the best one. I'm free, I'm taking the risk, but the struggle is real. That last one should be followed by "resilience".

[@naturequeenb]

Great video, thanks Alux. One of the things I’ve struggled with is learning the finances of the business I run. Thanks to all of your book recommendations, I will be improving that!

[@JamesHollowayYT]

All in good time :) I talk about real estate investing on my KZbin channel!

[@adventures223]

You have to get a cpa to take care of that it will free you up to spend more time growing your business a good book i am reading is 17 reasons why most businesses fail its on Amazon great book

[@marcozacarias1675]

Love Alux! You asked for it where am I struggling when trying to build a business? Keeping family and relationships while trying to build.

[@femmenaturel7074]

My business failed rather quickly and I can say that it is because of a lot of the things mentioned. I don’t have an entrepreneurial thought process like I thought I did, but I also don’t want to work for any companies so my next step is to read some books you recommended

[@ibeajachinedu2276]

I have quite already, but after watching this video my passion for business is restored thank you Alux

[@AnilkumarDashakd]

bird born in a cage think flying is an illness

[@everettwalker2258]

Deep

[@DioDiablo702]

Setting up my shop right now. My mind has so many "what if" questions that I want to plunge in and be FREE of the future.

[@kbdaminjonov7447]

In 3 minutes 643 views / Respect!!!

[@photoshopsuraj]

Alux please make video on 15 things why businesses succeed very excited to see this! Anyone else with me✋

[@MyRealtourr]

Thank you for this video, it came at the right time and moment. Number 16 just hit me hard to my core! Thank you Alux 💙

[@NikhilKumar-gn5pr]

FREE , the Sunday motivational videos keep getting better and better

[@riaz9821]

Thank you Alux I really needed to hear this🙏 I'm experiencing quite a few of these at the moment and didn't even know it🙈 P.S FREE

[@yasinnabi]

if you are not failing, it means you gonna hurt badly.... be ready always for a failure.... failure is part of success... a fellow creator

[@mr.dteenpop4916]

Alux family I think I'm addicted to your videos I don't think I'm sure 😂😂😂😂😂😂😂😂 #aluxfamily

[@yesajikulkarni9753]

"DATA AND CONCEPT THEFT" (AS PROJECT IS STILL UNIQUE AND MONOPOLISTIC)WAS BIGGEST CHALLENGE FOR ME

[@jonny_gage]

I love you guys! I'm starting my own business and I learned a lot from you guys , thank you.

[@JamesHollowayYT]

That's awesome! What's your business? Mine is real estate investing! Currently have two properties that make me $1100/mo in cash flow! I talk about them and my experiences on my KZbin channel!

[@ac6367]

Well Done! There are editing and typo issues, but your high quality of topic has returned. Thanks for being here, and being a FREE resources!

[@nagarajaraogangodu5184]

though I am late to watch it on a wednesday in Singapore. I will never miss your videos. :) thanks for the recommends. I will always support your channel :)

[@LeoBt03]

I was recommended that Theranos video yesterday (stopped after 10 mins) and then THIS video happened haha!

[@benjaminabarca5939]

One of my “ PROBLEMS “ is that I have so many clients, there willing to wait !

[@the360degreemastery3]

Thanks for this video. No.16 held me back for many years

[@TomikaKelly]

Can you do a video on dropshipping and another on marketing? 💙

[@sylvesterblue]

Wow. Just wow. This is a lot of value to get it for free. Thanks a lot

[@JamesHollowayYT]

RIGHT?! That's why I love KZbin. What a day and age we can learn so many different things for free! I talk about real estate investing on my KZbin channel!

[@JustinGreen93]

Watch this quickly at 1.5x or 1.75x so you have enough time for mor3 knowledge

[@Yadzudsu.]

but also right all down ;D

[@raz7573]

Scaling too fast. I’ve seen that first hand. I was working at a startup fashion company, developing the brand. It was fun and exciting. The first line of clothing was well received. Only 6 of us plus the owner and two salespeople. We got accepted into two department stores and several smaller stores. Suddenly we were moving into a huge space and hiring a ton of people. In less than a year the company closed.

[@jewelandfriends]

I started my business, u failed. This time I will get it right! Thanks Alux

[@victorvalderrama9941]

This video gave me the understanding and the confidence to start out a business, and what it takes to succeed. Thank you so much for these videos they do bring a lot of value to my life!!

[@samuelkojoyamoah3535]

I just discovered this channel n am dying for it

[@siddhantgala7461]

Please recommend book(s) on the skill of interviewing

[@godwinwilfred6631]

Oooooh I love alux, whatever n whenever I listen to or watching I feel like a billionaire😋😋😋😋😋😍😍😍😍😍😍😍

[@JamesHollowayYT]

Right? It's such great motivation! Alux's videos helped me stay on the path to financial freedom and I can gladly say I'm 1/3 the way there! Real estate investing is the best :) I talk about my properties and my experiences on my KZbin channel!

[@inflatablecarnival3172]

The end of this month marks the end of my busy season . First year in business under my belt . Had no idea what I was doing when I started , and at the end if the first year , I have things figured out pretty good. Just do it ! You’ll figure it out along the way .

[@noelasangbe5027]

Alux you guys are simply the best💕

[@sauloxavier5143]

FREE It's amazing the content of these videos give away totally free. Thank you very much Alux.com for such valuable videos. I love them and watch them over and over again and they have been motivating and helping me a lot.

[@asadanwer5733]

point 10 is similar to snapdeal it hired IIT students and the ceo had very high pay so they collpaded

[@ambiering5164]

free my family and I are not the smartest or have much money..but my dad has the skill of cooking good food, all types, and the best cookies u can ever consume, my mom is good and making things presentable. for example, she can make my dad's cookies in a cute sellable, like a gift. my two brothers are hardworking. the middle one is always devoted and hands-on type of worker, also good at managing. the youngest brother is very book smart, and open-minded, as for me I am very bad at book smarts but very open-minded but need to learn to choose one dream and not 20, and put 100% in that one dream. I hope by reading and educating my self with videos like this and the books u recommended will help my future fam business, we live in Hawaii BTW so wish me the blessing .

[@dostiwithgrandmasti8739]

Please make a video on 15 things to become intelligent...

[@alux]

Step 1-15: READ MORE or listen to books: www.alux.com/freebook

[@franciskintungi]

Just finished listening to this topic's podcast. I don't get much time watching videos so I recommend you publish more podcasts... loving your channel

[@maestro0798]

Its not mondays alux, you gave me a mini heart attack :')

[@sohailbasha7781]

Hahaha

[@libanalasow6240]

Lol

[@collegedudeYT]

Hi Alux lady ! Loved the video, can you make a video like this one with reference to how hard it was for today's big businesses in their early stages? It would be inspiring. Thanks.

[@Dufferwise]

Free, Parternship is not good I have experience this.

[@stafa5568]

aahil khan thanks for the advice. What was your experience with partnership.

[@cageedits8716]

This saved my life I am running a game dev bussiness but since im 12 im raising money by selling sweets in my school

[@terrybrennan179]

Doesn’t seem too motivational from the thumbnail...

[@russlea6383]

"Failure is inevitable. Success is elusive." ~ Steven Spielberg

[@the360gaming5]

Free

[@mr_demby]

Currently managing a small jewelry business called discern jewelry and revamping for 2020.

[@dillonwilkinson1490]

Billionaire Monday on a Sunday though?😂😂😂

[@tazydevil1379]

I was about to comment the same dam thing 😀

[@alux]

Yeah Dillon, it slipped right through editing. Everybody makes mistakes, so we'll leave the video up, it's not worth a re-upload.

[@dillonwilkinson1490]

I agree, I love your videos, keep up the great work, you guys inspire me so much.

[@nadirrabah6756]

Look at what I put down. She must have been on that pipe lol. Still love your videos though Alux lady.

[@darius5396]

I started a online store selling my cannabis clothing line a year ago. Only one sale but this video has definetly gave me some input on improvement.

[@alux]

Best of luck with you business!

[@timothyblakeley9498]

I am the CEO of Adroit Defense, LLC, a recently formed company that will sell products in 2023, for protection against attacks, such as attempted murder, rape, and robbery. One of the smartest things any person can do is learn from the mistakes of others and not repeat such mistakes. An informative video that I have taken to heart. Thank you!

[@thaleshb9380]

Did you say Monday? 👀😳🤨

[@alux]

Editing error

[@thaleshb9380]

Alux🌟 I’ve Figured but anyways good content Alux! As ALWAYS!

[@monsieurchris1154]

@@alux We still love you doe.

[@pktrivedee]

Its great to have a another video from you.. Thank you Alux for the pin pointing things perfectly when needed most ( Specially 16th😉 )... #Alux #Respect #Motivation

[@syedzeeshanahmad4998]

Why video quality is just 360p ?

[@alux]

Not processed yet by KZbin

[@shannen_sama]

The difficulty I faced was managing the resources I had .would most of the time use my business capital for my personal expenses and at one point when things got tough didn't have enough money to keep going

[@holivimongzar4597]

Lack of capital :- In India you cannot start your own business without having huge amount of capital, I don't know about the other countries weather it is possible or not. One reason u can own your company in india but that need lost of time and effort by working as employee for 50 years during this time u have to save some little sum amount of money. Oh holy Christ 50 years come on I don't have time. What if u have experience of 10 years and u have lots of skills and confident to run your own business. so I think it is important to have some amount of capital if u want to start your own company. My life is struggling here and I left the company just coz lack of capitalism but I wouldn't give up I'm 999% sure I will have my own company very soon. Now just to get big amount of money I open a big farm somewhere far from city saving each an single penny to achieve my goals. I think this is saddest story of the person who want to become rich... Thanks team to Alux & God bless me

[@drippyskiippy966]

Lack of customers is my problem. But that comes with time.

[@ShaynePatton]

FREE :: I've started businesses that had a lack of competitive advantage. They dwindled though I had a good strategy. I've also had issues with not an inability to sell, but rather an unwillingness to sell. This was based not on the services &/or strategy I offered, but on personal insecurity & an "if you build it they will come" sort of attitude. I'm now selling as my primary role to force myself to overcome this..... ;-) Thanks for another great vid aLux!

[@S4h4r4s]

It's unfortunate the views for this video is low, good luck young entrepreneurs!

[@JayPrakash_hyd]

Free ! I wana fly now... thank you Alux.. love u ❤ wish our sparks fans to Fire 🚩

[@kennywaters5906]

Thanks Alux! You guys have given us so many wonderful tips! To the point where I feel like you no longer need to teach us anything else lol. You guys should do videos where you speak on these tips more intimately. You know, one by one. I feel it’ll help us be more focused on our goals.

[@kennywaters5906]

Also it’ll help you guys get more content out there!

[@boohoo4877]

Free ❤️ I’m just starting a new business small but with the right moves it will grow

[@akpaul2014]

Enterprenuer quotes :- Don’t work for money. Money will work for you..

[@manavsingh7378]

All these reasons don't even contribute to 5% of total business failures. I was recently watching a Tedx talk...and I heard that 95% businesses fail because of financial mismanagement. So understanding finances is also important. You don't have to be an accountant, but it's important to know how it works, how economy works, how budgeting works, etc.

[@adventures223]

Losing intetest in your business is also one of the main reasons but yes i agree with financial mismanagement as the top reason

[@mixxf]

great topic would be: 15 rules on how to hire the right people for your company

[@redenvelopebek]

FREE! from 0 to 100 built from the ground up, business in 70 days. All thanks to the videos and encouragement from Alux!

[@lancer_2146]

"This is billionaire mondays" *gets a mini heart attack and checks calendar*

[@zoegrace9652]

I love the last quote... birds born in a cafe think flying is N illness... deep!

[@gin-i208]

Free- Hey I love the truth you show with your videos. What would be cool is a video for people that are starting a business is to break down what people need. Example some people don't understand when they should get a business checking/saving account and if they do get a business account, they don't know what kind they need. Also, people don't know what are the first steps to take after they say" hey, I want to start a business doing _______. Maybe if you do a step by step on how to start a business would be a good video.

[@keithandrelashley]

I think it is a great improvement to reference books in your videos. I know you have a playlist that does this but I think other videos benefit from putting references where people can get more info.

[@sanajyb1995]

Such a great video and Alux.com always shares this tons of valuable knowledge for "free" ;-) Thanks for the motivation Alux.com.

[@ajisrael5109]

Highly motivated to start my streetwear vintage store😁. Thank you for this. Free!

[@yeddalajaswanthyadav5577]

If possible make a video on 15 things that how rich people use power to grow business

[@nkosimbokazi3406]

just came to say i saw the typo on number 15. Still didnt take away from the quality of the content though actually added a more comical feel to something so valuable. i guess thats what good business/marketing and goodwill through value added to customers creates... even missteps can be entertaining and garner positive feedback. idc if someone saw it first btw

[@thoba.m.]

I care alot about reputation at a job or when doing business..but I'm not sure whether this adds fear in starting out in a business as I believe one must have a proper skill and experience in making the product or the service they want to render before plunging in.

[@valentinec1245]

Thanks so much alux for all great value you guys provide to the aluxers

[@MXofTHREE]

Most want to know how to start a business without money. If you don't have access to disposable income, something is fundamentally wrong with you or your situation to the point where you earnestly shouldn't start a business.

[@thebasicquestion2853]

Keep on doing the amazing things you can do. Thanks a million.