5 MISTAKES BUSINESS OWNERS MAKE IN THEIR BUSINESS
Why do so many business fail within the first five years?
A lack of experience by the owner can certainly play a major part in any business’ failure. Experience isn’t something you can buy. It is learned through challenges, successes and failures. Too often people rush into business before they’ve had a chance to gain the experience that can be so powerful to building a profitable business.
You may have worked in your field for years, learned everything there is to learn about plumbing or cooking or whatever area your business is in, but what did you learn about how to actually run that business?
Often, business owners need experience to learn how to run a thriving business.
Experience teaches people how to do things, just as education does, but experience also gives business owners an actual visceral reaction that remains after the words learned have left.
So how can you avoid failure while employing the proper tools to gain experience?
You can do it by avoiding big mistakes and learning as you go. Here are some of the biggest mistakes business owners make and how to avoid them.
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