#249 - Finance Basics For Small Businesses
In this episode, Lloyd James Ross breaks down the real reasons most small businesses fail and the crucial financial habits that set successful entrepreneurs apart. From sobering stats like "60% of small businesses fail within 3 years" and "only 1 in 5 track their numbers weekly," Lloyd emphasizes why tracking your money, managing your cash flow, and focusing on sales and marketing—not just perfecting your product—is what keeps your business alive. He shares practical insights from his own businesses and coaching experience, highlighting time-wasters like admin and "fake work," the trap of…
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