The article from Business News Daily discusses six common reasons why small businesses fail and provides advice on how to minimize or avoid their negative impact. These reasons include poor cash flow, inadequate leadership, disengaged employees, lack of business planning, strong competition, and failure to adapt to changes in the market.
The article suggests that to address these challenges, small business owners should prioritize financial planning, establish clear organizational structures, foster employee engagement, create comprehensive business plans, conduct competitive analyses, and be adaptable to industry trends. Additionally, the article highlights the importance of cultivating a supportive and collaborative work environment and investing in leadership development programs to ensure that businesses are well-positioned for success.
Looking for some great podcast episodes to add to your listening list? Here are five suggestions from JJ Ramberg, co-founder of podcast discovery app Goodpods. She provided MSNBC with a “must-listen” playlist for women entrepreneurs. Link to article.
In this recent article in Forbes, members of the Young Entrepreneur Council shared advice on how to build a network of women for support. Some suggestions included seeking opportunities to collaborate and finding mentors and colleagues who you can be yourself around.
Whether or not their suggestions are ones that work for you, remember that while women are still an underrepresented group in the business world, leaning on other women for advice and support can be critical for our success and sanity. Check out the link to the article above to see all tips that were mentioned.
A recent podcast from Hidden Brain entitled “Less Is More” discussed some important realities on how to make a make a convincing argument. Specifically, it is often a better choice to limit yourself to presenting only a few strong points rather than going for quantity and adding in more points that carry less weight than your original few.
While this discussion does not specifically target entrepreneurs, small business owners are constantly faced with the challenge of pitching themselves – either for funding or to make a sale or to hire a team. Understanding how to make the most convincing argument is bound to help in all those arenas. Hope you have time to give the free podcast a listen!