Interrupter CheckmarkInterrupter IconFacebookGoogle PlusInstagramGroupRamsey SolutionsTwitterYouTubeExpand MenuStoreCloseSearchExpand MenuBackStoreSign in

Ask Dave

Business Hindrance?

Dave says that marketing is rarely the downfall of small businesses - it's poor accounting.

QUESTION: Josh asks Dave to outline the biggest obstacles for entrepreneurs just getting started.

ANSWER: Marketing rarely causes a small business to fail.  It’s usually accounting; the lack of keeping the books leads to a failure to pay quarterly income taxes.  When a business tries to get current on their taxes it usually kills them. 

Most small businesses also doom themselves from the very beginning because they start out with debt.  It robs them of the ability to cash flow and magnifies the business owner’s mistakes.  As an entrepreneur, you’re going to make mistakes; if you make mistakes on top of huge small business loans, you’re setting yourself up to fail.