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Reasons for Failure
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Possible Resolutions
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1. No Sales
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Small business owners must sell.
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2. Poor Cash Flows
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Have three backups for cash.
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3. Bad Debt
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Create credit policies and stick to them.
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4. No Business Plan
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Putting your goals in writing makes them real.
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5. Growing Too Fast
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Take only "the best" customers.
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6. Payroll Taxes/IRS Problems
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Hire a payroll service (i.e. Paychex).
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7. Give Up
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"Never, never, never quit."
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8. Partner Dispute
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"Legal documents" can prevent and ease the pain.
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9. Bad Employees
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Perform due diligence before hiring.
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10. Not Adapting to Change
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Be the leader in your industry.
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