Why Small Businesses Fail Reason #3 – No Market Focus In this video above, Dr. Paul Borosky, MBA, discussed Reason #3 why small businesses fail, which is the lack of market focus by a business owner. He stressed that the importance of identifying your ideal customer instead of targeting everyone, helping businesses create sharper, more […]
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Why Small Businesses Fail Reason #4 – Poor Cash Management In this video above, Dr. Paul Borosky, MBA, discussed Reason #4 why small businesses fail, which is poor cash management by small business owners. He shared a real-world example of a trucking client who struggled with monthly cash shortfalls until they implemented a custom daily
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Why Small Businesses Fail Reason #5 – Undercutting Prices In the video above, Dr. Paul Borosky, MBA, explains why underpricing products or services without an exit strategy is one of the top reasons small businesses fail. He warns against “giving away the farm” to gain market share, noting that while it may work short-term, it
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Why Small Businesses Fail Reason #6 – Failure to Adapt In the video above, Dr. Paul Borosky, MBA, explains Reason #6 why small businesses fail, which is failure to adapt. He highlights that both internal and external environments are constantly changing, from staffing shifts to AI-driven disruption. Businesses that resist change will lose, while those
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Why Small Businesses Fail Reason #7 – Trapped in Day to Day Operations In the video above, Dr. Paul Borosky, MBA, explains Reason #7 why small businesses fail—getting trapped in day-to-day operations. Many owners focus solely on daily tasks instead of strategic growth. He stresses the need to delegate, plan ahead, and eventually “fire yourself”
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