Business rises and falls on leadership. According to business guru, Brian Tracy, Leadership is the most important single factor in determining business success or failure in our competitive, turbulent, fast-moving economy. Still not convinced? Based on a study by Jessie Hagen of the US Bank, here are the main reasons why businesses fail:
Poor Business Planning
Poor Financial Planning
Poor Marketing
Poor Management
Proper application of these key factors is a function of good leadership. Lets look at some of the conclusions of the US Bank report. According to Hagens study, in the Business Planning category, 78% of businesses fail due to lack of a well-developed business plan. It boggles my mind that so many people go into business without a plan, as if it were the ice cream flavor-of-the-month! Is it any wonder that when I came across the DEA Police & Government auction site of confiscated property, there is a gleeful statement that declares, Most businesses fail within their first two years, so chances are, you will come across some relatively new merchandise. At (our) auction, get what you need without paying full price.
If...
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