10 Reasons Why Your Small Business Will Fail - and How To Avoid These Tragic Mistakes

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  • Опубліковано 29 гру 2024

КОМЕНТАРІ • 125

  • @deltahomicide9300
    @deltahomicide9300 Рік тому +6

    I have little overhead, no employees and starting to become competitive in the industry. No more excuses. Thank you this video rings true.

  • @D_punkster
    @D_punkster 10 місяців тому +3

    This is gold. Thanks 😊

    • @PhilipVanDusen
      @PhilipVanDusen  10 місяців тому

      @D_punkster, Thanks so much!~ Can you do me a favor as a small thank you? Please share my video with a friend or two! I'm trying to build my subscribers. More to come!

  • @therefinedbusinessblueprint
    @therefinedbusinessblueprint Рік тому +1

    Spot-on video highlighting the challenges of owning a small business. The stats don't lie, and the insights into common pitfalls are crucial.

  • @labanlefleur1512
    @labanlefleur1512 2 роки тому +11

    This was really informative and came at the perfect time when I want to start focusing on my company on a serious level.

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому +2

      Laban, That's awesome. Glad I could help. Let me know if I can be of any additional help as you launch!

    • @labanlefleur1512
      @labanlefleur1512 2 роки тому

      @@PhilipVanDusen Thank you, I will defnitley give a shoutout if I need further help.

  • @katelewis7267
    @katelewis7267 Рік тому +2

    I am so glad I found your channel. Your delivery is so clear and for the first time I feel like I now have tangible, attainable focus points to work on my business. I find so many other advice pages over-whelming and intense that I come away feel like a deer in the headlights. Your content is so clearly delivered and in a way that encourages. Thanks Philip :)

  • @PhilipHarperGraphicDesign
    @PhilipHarperGraphicDesign Рік тому +19

    Kodak actually make high-end digital camera sensors which are bought by other high-end manufacturers. So, they're still going, just less of a b2c model and now b2b. In a way, you could say this is changing direction and innovating.

    • @PhilipVanDusen
      @PhilipVanDusen  Рік тому +6

      Thanks Philip! I didn’t know that…I have to say though they were still late to the digital party. They could have totally owned it, IMHO

    • @shueibdahir
      @shueibdahir 5 місяців тому

      @@PhilipVanDusenthey're still successful due to the fact they survived. A lot of companies cannot say that

  • @ka-trks837
    @ka-trks837 2 роки тому +3

    Awesome summation Phil. Launching small business and doing it right 101 :)

  • @robch4414
    @robch4414 Рік тому

    Great stuff, thanks. I'd suggest another reason for failure is the inability to realise this is not just about creating a new product or service, but also building a new company, with all the boring housekeeping that involves.

  • @cherrybattung59
    @cherrybattung59 Рік тому +4

    I just finally admitted my 7 month old business loss yesterday. I have lots of sleepless night and keep wondering why and where I went wrong. Now I in deep debt and depressed. Sometimes I wish I just d!*

    • @tarquinmckay5104
      @tarquinmckay5104 5 місяців тому +1

      I hope you ok😢❤

    • @richardmichael7659
      @richardmichael7659 Місяць тому

      You didn't lose. You learned it's high time to go again now with some experience

  • @FannyDiazIsrael
    @FannyDiazIsrael 2 роки тому +4

    Just in time! Hope soon to be able to hire a branding specialist 🌺

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому +2

      Hey Fanny, I'm ready when you are...😉

  • @marksummers463
    @marksummers463 2 місяці тому

    Another GREAT resource on why businesses fail us a peace titled The Hatchet Man's Playbook - a LOT of eye-popping stuff!

  • @JohnDoe-fu4qd
    @JohnDoe-fu4qd Рік тому +1

    great video. wish I found you sooner. never too late. You explain concepts very clearly.

  • @masterarziod
    @masterarziod 2 роки тому +2

    Thank you very much! God bless you! 🙏❤⭐

  • @aakansharaj3329
    @aakansharaj3329 9 місяців тому

    This is so valuable, I really wish I would have come across this sooner! Really highlights where I need to start focusing in my own business.

  • @collettlitchard7690
    @collettlitchard7690 2 роки тому +3

    As always, your knowledge and insight is invaluable 🙏 thank you

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому

      Collet! Great to see you here girl! Hope you're having a great summer.

  • @jessicaj.1011
    @jessicaj.1011 2 роки тому +1

    Lots of info to take in here. Thanks!

  • @dashiajames1882
    @dashiajames1882 2 роки тому +4

    Great stuff to know...!! I'm just starting my business I'm selling clothes but I kinda changed it cuz I think ppl only think I sell clothes. I don't know if it's a good thing or a bad thing. I don't want ppl to think I only sell clothes. Great video..!!

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому +3

      Dashia, Thanks and congrats on people knowing about your business - it's not a bad thing that people know what you do - and try not to confuse them with promoting too many conflicting ideas when you are just starting out. Keep it simple.

    • @balex556
      @balex556 Рік тому

      well one of the most effective ways to engage,and boost your sales is creating website and an app to brand your business and am an expert I can help you with this services

  • @VelvetAnnn
    @VelvetAnnn Рік тому +4

    It's insane that literally EVERY mistake you pointed out, are the exact ones that I've been making. You clearly know your shit babe. I just started up a little lipgloss business and I know I know 'Rome wasn't built in a day' but man I cannot seem to reach anyone. I've done my research and follow some of the most successful young women who do AMAZING with their lipgloss business and took all their advice when it comes to promoting on all my social media's. I even just designed my own website. I don't wanna get so discouraged to the point where I throw in the towel bc I finally got out of the dark place I was stuck in for years and I actually found something I enjoy doing. But I'm stuck 😞

    • @balex556
      @balex556 Рік тому

      Hey maybe I can help you out with this let me check out your website

    • @yiweilee2715
      @yiweilee2715 Рік тому

      How is your business now? I wanted to start a dessert business from home but after listening to this video, I’m wondering if I’ll be able to do it without having much start up capital

    • @billyb4790
      @billyb4790 Рік тому

      Don't forget you can follow some of the most successful men, too. No need to pick sides ;)

    • @VelvetAnnn
      @VelvetAnnn Рік тому

      @billyb4790 oh God, don't be one of those weirdos who over analyze every single thing that someone says when having a normal conversation/making a statement... making everything about sexism. My god this world is so obnoxious anymore. My goodness, crucified for saying 'ive done my research and some of the most successful young women who do amazing with their lipgloss business and took all their advice when it comes to promoting on all my social medias' 🥱😒

    • @billyb4790
      @billyb4790 Рік тому

      @@VelvetAnnn hey suit yourself. You were the one limiting yourself to gender not me 😂

  • @patriciahmuthonimaina1971
    @patriciahmuthonimaina1971 2 роки тому +1

    This is very very informative. Great advice.

  • @juliocargnin
    @juliocargnin 2 роки тому

    That’s a really good summary! Thank you!

  • @bakarekemugabekazijoyeuse2877
    @bakarekemugabekazijoyeuse2877 4 місяці тому +1

    I appreciate your recturing

  • @joshkaye5303
    @joshkaye5303 Рік тому +1

    And at the same time we ask "what's your 5 year plan?" in other words - things change

  • @corallall
    @corallall 2 роки тому +4

    Philip,where does the name Verhaal originate from? Tell us yr story!

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому +4

      Adrian! Good question. Here's a bit from my website describing it: "Verhaal means 'story' in Dutch. We chose the word “story” because we believe having an authentic story is a cornerstone of all successful brands and ours is no exception. Our founder Philip’s dutch ancestor, Abraham Pieterszen VanDusen, arrived in “The New World” in 1627 and was one of the first hundred settlers of “Manatus”, the island that became Manhattan. Abraham owned two mills, a tavern and served on the “Council of Twelve” one of the first governing bodies in New Amsterdam (what NYC was called before it became NYC!). So you could say our history of entrepreneurship and commerce in this country is as authentic as it gets.The establishment of Verhaal Brand Design is a celebration of this story and the unfettered passion and curiosity with which we approach our work and your brand."

    • @corallall
      @corallall 2 роки тому +3

      @@PhilipVanDusen Wow! What a rich historical heritage revealed! Indeed, your surname is of Dutch origin.

  • @Toshibaclovis
    @Toshibaclovis 2 місяці тому +1

    This video is not helpful for a long-term employee that is getting shit upon by his employer. After 25 years nothing like being told I can't afford to give you a $2.00 raise and health care benefits it's just not in the budget. My boss gets state funding. Sorry that happened yesterday and I'm just venting.

  • @namdagoat
    @namdagoat Рік тому +1

    You earned my sub tons of great information here ✅

  • @ManuManu-kv7xn
    @ManuManu-kv7xn 5 місяців тому +1

    Please explain about income tax strategies of small business owner

    • @PhilipVanDusen
      @PhilipVanDusen  5 місяців тому

      I’m not an accountant- and doing that would be irresponsible. I leave taxes to the experts.

  • @matyaz3558
    @matyaz3558 Рік тому

    Thanks!!!

  • @EpikStudios.official
    @EpikStudios.official 2 роки тому +1

    Great video!

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому

      MasterEpik, Thanks so much!~ Can you do me a favor as a small thank you? Please share my video with a friend or two! I'm trying to build my subscribers. More to come!

  • @Redspytotallynotinthebase
    @Redspytotallynotinthebase 6 місяців тому

    I’m looking to start a museum, no museum within 100 miles of me, well over 150,000 people within 40 miles of me

  • @JuliusAnthony
    @JuliusAnthony 11 місяців тому

    Amazing tips sir

  • @AlettaFienies
    @AlettaFienies Рік тому

    Help to educate the family

  • @michaelmckeary1165
    @michaelmckeary1165 Рік тому

    Very Good.

  • @williamrogers4917
    @williamrogers4917 Рік тому +3

    Did not learn anything new. It is like all the other, telling you things you need to do but never how to do them. And so you are off through a maze of info trying to figure out where you need to go to find the info you need but never finding it because of all the other list like this.

  • @dynamics9000
    @dynamics9000 2 роки тому +1

    I love your contents and wonderful shared sir.... subbed and liked , a fellow creator

  • @ricardopires2897
    @ricardopires2897 20 днів тому

    1 - Cash flow
    2- Not understanding the customer´s problem
    3- Don´t analyze competition
    4- You thing a good product or service is enough
    5- You don´t create a brand, you create a company
    6- You don´t think you have to change or innovate
    7- Inside the business is as important as outside the business
    8-

  • @zhouyongming4151
    @zhouyongming4151 Рік тому +1

    great video

  • @akaffouni
    @akaffouni 2 роки тому +2

    Gold

    • @PhilipVanDusen
      @PhilipVanDusen  2 роки тому +2

      Hey Abdulkarim! Thanks so much for checking out my video! I appreciate you taking the time to leave a comment. Keep tuning in!

  • @philnorling
    @philnorling 2 роки тому +2

    Did I just earn an MBA?

  • @muhammadelmasry7932
    @muhammadelmasry7932 6 місяців тому

    I tried and I failed , it fail because the cash flow was so small

  • @SnowEclipse-official
    @SnowEclipse-official 2 місяці тому

    1:00

  • @masterarziod
    @masterarziod 2 роки тому +1

    🙏❤⭐👌👌👌👏👏👏👏👏👏👏

  • @Felicia-pk3oz
    @Felicia-pk3oz Рік тому +1

    Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life

    • @YemilaJosh
      @YemilaJosh Рік тому

      You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.

    • @HindaErnest
      @HindaErnest Рік тому

      I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.

    • @LinterBlinse
      @LinterBlinse Рік тому

      yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.

    • @Rosalind-fk2yh
      @Rosalind-fk2yh Рік тому

      Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people

    • @Sapphire-ly5ci
      @Sapphire-ly5ci Рік тому

      ​@@Rosalind-fk2yhObviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as sativa_hannah

  • @SnowEclipse-official
    @SnowEclipse-official 2 місяці тому

    0:1

  • @OneRecords2
    @OneRecords2 Рік тому

    This Is true ahahaha.

  • @lemlemdema567
    @lemlemdema567 Рік тому

    DR T YOU.

  • @HADIPlayzpiano
    @HADIPlayzpiano Рік тому

    boooo

  • @عليأحمد-و7ع7د
    @عليأحمد-و7ع7د Рік тому

    I invite you to Islam