3 common reasons small businesses fail-and how to avoid them

The video discusses the high failure rates of small businesses and outlines three key mistakes to avoid: lack of market research, poor cash management, and insufficient business management skills. It emphasizes the importance of targeting a specific audience, realistic budgeting, and assembling a skilled team to ensure business success.

Why is it important for small business owners to have a business plan?

What should small business owners do if they lack experience in managing people?