Welcome to Uncover Wealth Radio – In this episode, we will be talking about 5 Mistakes Most Small Business Owners Make and How to Fix Them – Run a Successful Business
Today, Annette Ferguson, who is the host of Uncover Wealth Radio and a pro in helping entrepreneurs take home more money from their business for them and their family to enjoy, is here to tell you all about money, business wealth and creating financial freedom
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It takes guts to start a small business. Not everyone is cut out to be an entrepreneur. Even those with entrepreneurial drive hesitate to launch a business, and for good reason. Statistics show that 7 out of 10 businesses fail within five years, with two of them failing within their first year, and 5 within three years.
Those who still choose the high road to small business success are well aware of this statistic, and their strong belief in their product or service encourages them to tread on. However, a great product or service is not a guarantee of success. It’s not enough that you have the best idea, the next best thing. A lot of entrepreneurs see their grand idea fail to take off because of mistakes that could have been avoided.
The key to success is being quick to identify cracks and loopholes, and taking steps to ensure that the same mistakes won’t happen again. These missteps can be the things that will make or break your small business. Read through to make sure you don’t make the same mistakes.
Failing to Plan
Failing to Research
Failing to Delegate
Failing to Spend Money Wisely
Failing to Commit
I will go through each of these in this episode.
