Kevin Reeth, CEO of Outright.com, shares common mistakes made by small business owners.

1. 9!
Ways
Entrepreneurs
DOOM
Their Businesses!
Kevin Reeth!
CEO & Founder, Outright.com!

2. The Small Business Landscape!
• 29.6 million small businesses in the U.S.!
• Employ over 57% of the U.S. workforce!
• 30% fail within 2 years!
• 50% fail within 5 years!

3. 1!
Start without the right motivation!
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4. 2!
Start without support!
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5. 3!
Spend money before you
have a business!
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6. 4!
Provide a product or service
that people don’t want or need!
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7. 5!
Let “busy work” get in the
way of real work.!
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8. 6!
Cheat on your customers!
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9. 7!
Spend money on marketing
you can’t measure!
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10. 8!
Be bad at math!
Many claim that that “poor” capitalization
is why small businesses fail. False.
Regardless of how much capital you have,
a negative cash flow is much more fatal
and means sure doom for every business.!
!
You must be able to determine if you
have more money at the end of the day
(or week or month). Otherwise, you're in
for a rough and costly experience.!

11. 9!
Be bad at planning!
What’s next for your business?!
!
If you don’t have an answer for that
question, you could be in big trouble.
Without direction or a roadmap, many
small businesses won’t get past the
starting line.!
!
After all, the far-sighted see better things.!

12. About Outright.com!
Outright.com is “dead simple” small business accounting on the Web. It
automatically grabs & categorizes financial data from banks, credit
cards & more, providing easy to understand reports so you know how
your business is doing and keeps you organized for tax time.!
!
With the average Outright.com user spending 42% less time on their
accounting, over 100,000 small businesses have chosen Outright.com
to handle their accounting so they can get back to what they love. Built
by small business owners with over 50 years of financial and tax
experience, Outright.com is the perfect solution for entrepreneurs.!