Welcome to the How of Business with your host, Henry Lopez, the podcast that helps you start,

run, and grow your small business. And now, here is your host. Welcome to this episode of the

How a Business podcast. This is Henry Lopez. And on this episode, I share the top five reasons

small businesses fail. This list is based on my own experiences

as a business owner, as a business coach, my research, and the research of other experts that

I've had the opportunity to learn from. For the show notes page for this episode and all of my

small business resources and to learn more about my one-on-one and group coaching programs,

just visit the howabusiness.com.

I also encourage you to please subscribe to my show wherever you might be listening so you

don't miss any new episodes. Businesses, of course, can fail for any number of reasons.

And often, it's a combination of reasons that leads to failure. Sometimes it may be out of our

control, like it was with COVID

that impacted so many businesses. But mostly it's due to what I might call operator error,

us as the business owner making a series of critical mistakes. It's either because we have a

flawed business model or because we've executed poorly or maybe a combination of both things.

If you've been listening to my podcast for some time, you may have heard me make the distinction

between a business idea and a business model. You know, the idea is what you do, what you sell,

what you offer, the product or service that you bring to market. The business model is how you do

that, how you deliver that

product or that service in a way that can be done profitably with enough of a profit to make

it worthwhile and that can scale. That's the business model side of it. And so that's why whenever I'm

asked, is this a good business idea or a bad business idea? No, other than obvious things, like I always say,

...