E01: Why most businesses fail
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E01: Why most businesses fail
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About this listen
In this episode of the 60 Minute CFO podcast, Tracy explores the primary reason behind the failure of small businesses: cash flow and financial management issues. Despite common misconceptions, it's not bad ideas or a lack of customers that lead to closures, but rather poor financial practices, with 82% of business failures attributed to cash flow problems. Tracy emphasizes the importance of financial fluency, likening it to driving a car where understanding the basics is crucial for making informed decisions.
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.