Most people think that 9 out of 10 businesses fail in the first 5 years due to a lack of Cash or capital. While those certainly are major factors, most businesses I’ve seen fail do so because of lack of knowledge and applying that knowledge in their business.
Take a look at your business. If you have cashflow problems, it’s likely a matter of not knowing enough about cashflow. If you have team issues, it’s likely you don’t know enough about hiring and managing team members. If you have sales problems, you don’t know enough about sales. If you are having profit problems, you may not know enough about how to get profit.
What do you need to learn this week and how will you apply it in your business?