Sep '25 • Mindset
The Most Common Reason Small Businesses Fail
In my 20+ year career, the number one reason that I've seen small businesses fail, including my own, is the lack of action.
Usually, there are only a few different levers that can move a business forward in their current state. The closer they are to the start-up phase, the easier it is to identify what those levers are. It's usually that you're not making enough money or your processes are out of order so everything's in chaos.
The bottom line is that once you identify the problem, you need to do everything in your power as the business owner to solve whatever is keeping your business from growing. I recently spoke with another founder who was struggling and reflecting back on their lack of progress over the last six months. And very quickly, what came of this conversation was that they felt guilty that they didn't reach their goals. The reason that they didn't reach their goals, and the reason that they felt guilty, was inaction while knowing exactly what it was they needed to do.
Call it procrastination, fear, laziness, or just a lack of talent. But at the end of the day, those problems all could have been solved by taking action.
I'm not saying take unnecessary risks. I'm saying that if you know what needs to be done, there's no reason not to go get it done. If you don't have the money, either get more work to raise the capital or get funding. If you don't know how to do something, find somebody who has the knowledge to help you or go to Google/YouTube and get the knowledge. There are very few things in the world of business that you cannot learn on your own.
So all you have to do is identify the biggest problem that you're facing *right now* and attack it. And stop trying to do every single task yourself. It's not sustainable. If you stay consistent in applying that philosophy and hold yourself accountable for your actions (or lack of), you're very likely going to get the results that you want.
I'm doing free discovery calls for anyone who isn't sure of what to do next.
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The Most Common Reason Small Businesses Fail
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