Why do businesses fail?

You’ll find a lot of newly minted millionaires on social media bragging about their new Lamborghinis and how business success is as easy as wanting it badly enough. By contrast, it feels like every other week we’re seeing news stories about major Australian businesses entering administration, liquidation, or otherwise struggling in the current economic climate. So what’s the difference between a business that succeeds and one that fails?

In this episode, Sevan and David discuss the biggest reasons businesses fail. They debunk the unrealistic perceptions of business success perpetuated by social media algorithms and explain why a solid business plan, proper financial knowledge, and strategic partnerships are essential.

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This show is produced in collaboration with Wavelength Creative. Visit wavelengthcreative.com for more information.