Robert Kiyosaki on Why New Businesses Fail

Business person

Photo by renjith krishnan

I came across these points in Success Magazine and decided to share. I hope they help you find a reasonable balance especially as far as understanding pitfalls to avoid in business building.

What sinks new businesses? 6 reasons given by Robert Kiyosaki:

  • Our schools train students to be employees who look for jobs rather than train entrepreneurs who create jobs and businesses.
  • The skills to be a good employee are NOT the same skills required to be a good entrepreneur.
  • Many entrepreneurs fail to build a business. Instead, they work hard building a job that they own. They become self-employed rather than business owners.
  • Many entrepreneurs work longer hours and are paid less per hour then their employees. Hence, many quit out of exhausion.
  • Many new entrepreneurs start without enough real-life experience and without enough capital.
  • Many entrepreneurs have a great product or service, but don't have the business skills to build a successful business around their product or service.

Anticipating these challenges means not being taken by surprise; finding solutions is what brings growth.

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