failure tag

January 7, 2011

Top 10 Reasons Small Businesses Fail

New York Times
JAY GOLTZ, On Wednesday January 5, 2011, 2:05 pm EST

One of the least understood aspects of entrepreneurship is why small businesses fail, and there’s a simple reason for the confusion: Most of the evidence comes from the entrepreneurs themselves.

I have had a close-up view of numerous business failures — including a few start-ups of my own. And from my observation, the reasons for failure cited by the owners are frequently off-point, which kind of makes sense when you think about it. If the owners really knew what they were doing wrong, they might have been able to fix the problem. Often, it’s simply a matter of denial or of not knowing what you don’t know.

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Pearls of Wisdom
You reap what you sow. Humility and the fear of the Lord bring wealth and honor and life. He who loves a pure heart and whose speech is gracious will have the king for his friend.
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