5 Reasons New Businesses Fail, and the 1 Fix

After spending many years running my construction company, which was my second business. The first grew well but was halted by the bottom dropping out of Detroit Michigan’s economy many years ago, which they are still trying to recover from.

But, after leaving the military and moving into the second business. The first few years were awful. Drowning in debt, creating losing proposals for new projects, working extremely long hours 7-days a week. It felt like I was just rolling off of my pillow onto our projects, from the projects to the computer for billing, and from there back on to the pillow.

This went on for the first three or four years, and nothing I did moved the needle. Until, I started learning the market I was serving, and why.

This may sound a little counterintuitive because as entrepreneurs we each believe that when we strike out on our own. We know exactly why we’re doing it, and what were doing it for, right… wrong…

See most of us use reasons such as: I can do better than the people I work for, or I want to make more money and control my own destiny, or to just simply live life the way you see fit. The point is there are many reasons we all decide to take the off-ramp of the Rat-Race to Entrepreneurs Village.