Monday, April 18, 2016

Watch out for Failure

The New York Times lists the top ten reasons that any small business can fail. They are reasons that any business can fail victim to. They are things like not enough money, a reduced demand for the products, or owners stuck in their own ways and not open to change. The most unexpected reason is out-of-control growth. When businesses all of the sudden start to take off, but don't have the financial backing, will fail. It is better to grow at a steady rate rather than all at once.

This article gave my research great insight into how small businesses function. I am going to pull many of these reasons into my solution paper as a call to action for the readers. The readers need am understanding of what small businesses need.

Goltz, Jay. "Top 10 Reasons Small Businesses Fail." Youre the Boss Top 10 Reasons Small Businesses Fail Comments. The New York TImes, 5 Jan. 2011. Web. 18 Apr. 2016. <http://boss.blogs.nytimes.com/2011/01/05/top-10-reasons-small-businesses-fail/?_r=0>.

Goltz, J. (2011, January 5). Top 10 Reasons Small Businesses Fail. Retrieved April 18, 2016, from http://boss.blogs.nytimes.com/2011/01/05/top-10-reasons-small-businesses-fail/?_r=0 

1 comment:

  1. It seems like growing too fast would be a good problem, but thinking harder provides an accurate perspective. It is probably difficult to control how fast you're growing unless you do very strategic marketing and have a really popular product, but I'm not sure any thriving business owner would ever ask themselves how they could decrease profits and grow at a slower rate.

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