The First-Gen Lounge
Summer 2021: Session 168 (Why Businesses Fail with Eve Hudson, Ph.D.)
Most neighborhoods have that one store that changes into a new business every six months. It was once a barbershop, then it was a pizza joint, then soon after it became a grocery store. These small businesses were launched and shut down almost before anyone took notice of them. And it breaks my heart. According to the Small Business Administration, 8 out of 10 new businesses fail within the first 12 months. That's a whopping 80%. But why? What can we learn from the tremendous amount of failure in the entrepreneurship world to apply to our business ambitions? From a broad perspective, the primary reason businesses fail is they simply run out of cash. However, the cracks in the foundation start well before lights out. Check out the full session notes: www.evehudsonphd.com/2021/05/168 Track by The Boy: https://theboy.beatstars.com/music/tracks. Join The Evingerlean Worldwide Family: https://www.evehudsonphd.com/family/. Grab your #firstgen goodies: https://www.evehudsonphd.com/shop/.