A University of Tennessee research report says up to 58% of businesses fail in the first four years and up to 71% after ten years. What causes such high failure rates, and how can you avoid it? Stunningly, only 1% of businesses fail because of neglect or some disastrous outside force. The other 99% of failures are nearly all avoidable.
We’ll go over the UT study and look at the major causes and the leading mistakes and how easy it is to avoid them. We’ll also look at which kinds of businesses have the best and worst success rates. You’ll definitely be surprised at that one.
And last, we’ll show you the five simple, over-arching actions you can take to keep it from ever happening to you.
Are you just starting? Just about to quit? Having huge success and coasting? If so, you need to listen to this Business Leaders Insight Podcast – it could save your business and may be simpler than you think.