Avoid Neglecting the 4Ms That Cause Business Failures
Money- #1 Reason that businesses fail. You can be profitable and still have a business failure. This could be due to slow pays killing cash flow.
Mindset – You have to have the RIGHT people with the right MINDSET.
Marketing – You have to market, build a belief in your product and have willing buyers. Make decisions based on LIFETIME VALUE of the customer. ($200 per mo. x 12 mo.) x 5 years = $12,000 Lifetime Value
Management – Failing to plan is planning to fail. Management is charged with establishing the vision and communicating that throughout the organization to get the desired market results.