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- There are more companies that fail than succeed
- Ultimately, it comes down to understanding your business
Why do businesses fail? It can be for a number of reasons – not managing cash, growing too fast, having the wrong product or fundamental idea. In this video, two well respected PricewaterhouseCooper’s experts give their advice on why many businesses aren’t able to succeed, while other businesses do.
One of the key issues touched on by Nigel Reynolds is that of employment, and finding the right candidate. Particularly in the US and Europe, the cost of getting rid of someone who isn’t doing their job is a hefty sum – so getting recruitment right is a key part of growing a successful business.
For more advice about growing a successful business and avoiding failure, watch this video above.
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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
