PhilTake #15 - 657 Reasons Businesses Fail
Really? 657 Reasons?
Yes. And no.
Yes, there are 657 reasons/causes/explanations cited in 99 different articles, surveys, posts, blogs, etc. I reviewed on business failures.
No. Many authors cited the same reasons… including the most obvious… the business ran out of money.
But why? How can a business owner learn from others’ mistakes... not to just avoid failure... but to prosper?
I tackle these questions with the assistance of a visual business model, I call Morph. This unique model can help business owners view their business in a totally unique and personal way.
Morph is built on six basic elements every business (failed and successful) possesses.
In our next QuickTake we will look at the first of these six elements.
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