Why Do Small Businesses Fail?

Seventy percent of small businesses go broke before their 10th anniversary, reports CNNMoney.

Why? According to the article, because many owners are delusional about their financials. Entrepreneurs tend to be so obsessed with the parts of their business that they love, that they completely ignore the fiscal side of running a biz.

The cure? Become your own CFO. Assigning the task to an outside accountant often isn’t good enough – no one knows you market as well as you do, and you must be just as involved in the financial decision making.

To read the article in full, click on the source link below.

Source

CNNMoney: Why Small Businesses Fail

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