I was recently on a podcast where I got asked the age-old business question – why do most businesses fail?
No one starts a business to fail. You would have started your business for some independence, to get away from the 9-5, to be financially free. And even though you don’t go into business to fail, 8 out of 10 businesses do not succeed.
Most business owners started their business because they loved doing what they do. They were passionate about their service, product or trade and decided to turn it into a business. Being good at what you do isn’t enough. You need to have some business acumen to succeed. You have to understand how a business works, which means you’re going to have to learn some new skills. Being great at what you do means you’re going to be great at doing the job, but running a business is totally different.
About the Author
Ben Fewtrell is a sought-after Business Coach, Keynote Speaker and trainer who has featured in Virgin’s Inflight Magazine and Entertainment Portal, SKY Business and “Secrets of Top Business Builders Exposed”. He is also the host of the popular Business Brain Food Podcast where he interviews leading experts on anything and everything business.