Top Ten Reasons Businesses Fail (or Survive)
It’s interesting to look at all of the top 10 lists on business websites. In fact, you can find plenty of websites listing the Top 10 reasons small businesses fail (or survive.) And I’ve found many of these links have common themes.
And here is a similar post, this one from the New York Times!
New York Times: Top 10 Reasons Small Businesses Fail
#4. Poor accounting. You cannot be in control of a business if you don’t know what is going on. With bad numbers, or no numbers, a company is flying blind, and it happens all of the time. Why? For one thing, it is a common — and disastrous — misconception that an outside accounting firm hired primarily to do the taxes will keep watch over the business. In reality, that is the job of the chief financial officer, one of the many hats an entrepreneur has to wear until a real one is hired.
So, to get to the point. You, as the business owner may be the “idea” guy. But may also need an “operations guy” or someone who will make sure that the books are balanced, the plan is being executed and there is enough cash flow to keep the business open long enough to get the ball really rolling.
If you need someone to be the ying to your yang, give Blue Frog Business Services a call. We do more than bookkeeping. We can be that someone to go to for operations advice and who can help keep your business focused, balanced and on track
Other interesting resources.
Small Business Revolution- Reasons Businesses Fail the First Year
Small Business Association: Why Small Businesses Fail