Why Small Business Fail By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group™
Michael Gerber, author of the mega-best sellers "The E-Myth" and "The E-Myth Revisited," is one of the people I admire and respect and who has had a significant impact on me and my businesses. Although I have listened many times to Gerber's audio tape about the E-Myth, I always come away learning more. In addition, I have read a booklet by Michael Gerber entitled: "Why Most Small Businesses Fail and What You Can Do About It."
In this booklet - Gerber lists the 10 reasons why most businesses fail - and how you can avoid them. So - here they are:
1. Lack of management systems 2. Lack of vision, purpose, or principles 3. Lack of financial planning and review 4. Overdependence on specific individuals in the business 5. Poor market segmentation and/or strategy 6. Failure to establish and/or communicate company goals 7. Competition or lack of market knowledge 8. Inadequate capitalization 9. Absence of a standard-quality program 10. Owners concentrating on the technical, rather than the strategic, work at hand.
After reading this list a couple times, it became apparent that "strategic planning and strategic thinking" are absolutely vital to avoiding these reasons for failure. And that is what J. G. Ebersole Associates and The Renaissance Group™ is about. If you would like to be better prepared to have a successful business and know how you can avoid these Ten Reasons for failure, please contact Glenn Ebersole at jgeprman@aol.com
To learn more about this author, visit Glenn Ebersole's Website.
Like this article? Share it with your friends
 |
Related Articles |
|
 Why Small Business Fail
|
| |
Michael Gerber, author of the mega-best sellers "The E-Myth" and "The E-Myth Revisited," is one of the people I admire and respect and who has had a significant impact on me and my businesses. Although I have li...
|
|
Who Should Review Your Business Plan?
|
| |
 I'm a big beleiver in business plans - not the text book thing, the simple working, changing, living, breathing thing. Every business should use one (note I said use not have.)
|
|
The Three Classic Marketing Challenges Faced By Small Businesses
|
| |
The other day I met with a client who was complaining that his marketing wasn’t doing a thing for his business. So I asked him three simple questions.
1. Do you have something good to say?
2. Do you say it well?
...
|
|
How to Avoid Business Failure
|
| |
Business failure is still very high. Why do you think businesses fail? Read to see if you have the answer.
|
|
Is Entrepreneurship For You?
|
| |
In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business - but you can improve your chances of success with good planning, preparation, and in...
|
|
