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S2Ep136: The Top 3 Reasons Businesses Fail and How to Avoid Them
Manage episode 373015601 series 2827196
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As an Entrepreneur, you should understand why businesses fail, so you can proactively address these challenges and increase your probability of success. In today’s episode, Allan highlights the top three reasons businesses fail. Statistics show, the reasons businesses fail is because of poor financial management, lack of market fit, and ineffective leadership. Tune in to discover Allan’s expertise tips, so you can increase your chances of achieving success in your business.
Summary:
2:01 The risk reward relationship of business.
3:49 Why do businesses fail?
9:07 Things to do to prevent this.
11:18 Don’t buy flashy stuff.
16.31 Lack of market demand or product market fit.
18:18 The importance of a product market fit.
20:22 Effective leadership and management.
24:52 The importance of growing your business.
26:57 Start your business regardless of the reasons.
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