Why Do Most Entrepreneurs Fail or Fold? / by Kerri
The reason most entrepreneurs and CEOs fail or fold is the same reason they went into business in the first place. In fact, the answer to why most entrepreneurs and small businesses fail or fold is that they start with what they love or what they are very good at BUT they never build a solid business foundation to grow the business.
They unknowingly set themselves up for failure.
It’s the reason why the overwhelming majority of entrepreneurs (more than 90%) fail to achieve their dreams. They wind up failing, even if they have a great idea, buy lots of good products, tools and training, and read all the books in their field of expertise.
All this applied effort is essential, but working very very hard is not enough. And it’s not good enough.
I take it personally when I see so many businesses fail and fold when I know it doesn’t have to be that way.
- I cannot sit by and watch so many businesses and hard-working smart entrepreneurs make critical mistakes in building the business of their dreams to achieve financial freedom. Especially in this wacky economy.
- I can’t keep quiet when the majority of entrepreneurs and CEOs have invested their time, energy, and irreplaceable net worth into the business to build an income plan, only to realize that it will never produce a wealth plan.
- I am sickened that more than 90% of all entrepreneurs and business owners do not have an exit strategy. They blithely accept the inherent risks of not planning for the future by justifying that they are consumed with the present.
That’s why I write this blog, why I wrote my book, HARVEST Your Wealth, host my radio show, Exit This Way. I want to reach as many business owners as possible with a clarion call – that it does not have to be that way. And if you use these tools and resources, they can make a dramatic difference in the outcome for your business and your future.