Challenge No. 2: Poor management

As the creator and founder of the business, it can be tempting to hold tight to the reins as your venture gets off the ground. Unfortunately, attempting to do everything yourself is neither sustainable nor helpful for the longevity of your business.

“While the owner may have the skills necessary to create and sell a viable product or service, they often lack the attributes of a strong manager and don’t have the time to successfully oversee other employees,” wrote Investopedia. “Without a dedicated management team, a business owner has greater potential to mismanage certain aspects of the business, whether it be finances, hiring, or marketing.”

CONTENT from The US Chamber: https://www.uschamber.com/co/start/strategy/why-small-businesses-fail