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Almost four decades in business 15 years lending to business owners, I realized the same threats were killing the businesses around me. I also understood that the cures were within easy reach and accessible to anyone who cared to notice.
Like most first-time founders, I started out knowing more about the work— in my case it was a tree planting service—than I did about running a business. Ignorance and self-destruction soon led me to the dreaded insolvency. I now understand some setbacks are unavoidable, but massive failure doesn’t need to be a rite of passage—disaster can be avoided. Hard knocks are mostly the result of self-sabotage, yet we don’t need to learn everything the hard way. We can stop destroying ourselves at any time, and it begins with admitting there is a problem, and then fixing it.
This book includes 40 business killers and many more hacks that will enable you to develop as a person and entrepreneur and build the business you want.
No matter how well-intentioned your business idea, things can go horribly wrong. When I vaulted into my first business in 1980, I hoped to be a successful, positive force for those around me, and an asset to my community. Seven years later, the day I declared bankruptcy, I felt crushed, enslaved, and worthless. Not the glory I’d envisioned.
So, you’ve gone to all the effort to get your venture off the ground and survived the start-up phase. Aside from the fact that you’re too busy to socialize much, or take holidays, your business appears to be thriving. In your circle of friends you might even be a bit of a hero.
Congratulations might be in order. In starting a business, you’ve achieved something that many people dream about but never do. But are things as rosy as they seem?