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Discover Why Businesses Fail: The Reasons Leaders Must Be BOLD

From episode: TGMS Ep: 130 Leaders Make Tough Decisions or Businesses Fail

You know, there's top reasons why businesses fail. Complacency, not putting the customer first, not relentlessly being innovative, growing too fast without a plan, hiring wrong, lack of money, bad partnerships, no marketing, branding or advertising, lack of change, and not having good counsel or good coaching. Well, all those are true and we could go on and on and on why businesses fail. Every single day, there's 30 .7 million small businesses in the United States today. Fifty percent of them fail the first year. You know, and 66 % of those have financial challenges. I've talked a lot on this short show that we've had for 120 -some shows now that I've produced. We've talked about financial issues. That's huge. However, nowhere do we talk about why businesses fail because leaders need to be more bold. And that's what we need to talk about more. You know, I've done it wrong. I've done it wrong several ways. I've been in business 33 years now. So I know what doing it wrong means. I've learned from doing it wrong. And here's some things that I've learned about keeping people too long on your team. Number one, I had lack of help. So I just kept someone because a body was better than nobody. And I had lack of training, so we can't replace them fast enough. And the employee was just a nice person and they desperately needed this job. So we kept them too long. And for some, it's avoiding conflict. You just don't want to have conflict. So you just leave them on your team and they don't produce and you're losing money with them, but you just keep them. And then there's hoping that some miracle that God will just provide a miracle to help these people and their performance. And you're just hoping that they will improve and God can do anything. We know that, but it doesn't happen and we still keep them. So, and maybe we just feel guilty about our weak leadership and that we're not doing it right and we're not training them well enough and we're not setting expectations well enough. So we just leave them on the team. By the way, when we do that, it just affects the entire team,

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