5 Mistakes That Could Ruin Your Business | News & Trends

Leadership coach Kathy Caprino reveals the risks, mistakes and rewards that small businesses must be aware of to reach long-term success. Watch more Small Business News & Trends videos: https://bit.ly/biznewsandtrends

0:00 Who is Kathy Caprino?
0:19 Business investment mistakes
0:40 When to take a financial risk in business
0:56 Finding the right business partners and employees
1:30 Being an effective business leader
1:57 Avoiding burnout as a small business owner
2:22 Pivoting to scale your business
3:09 Importance of listening to wise advice in business

As a professional career and leadership coach with over 16 years of experience, Kathy Caprino, M.A. thought she knew everything after publishing her book. But Kathy quickly discovered that she still had much to learn — and made some big mistakes along the way. With her first and biggest business mistake regarding money, she gives small business owners helpful insights on when to take big financial risks (and when they won’t pay off). She delves into finding the right people, including business partners and employees, who will help your business grow to new heights. In order to be an effective leader in your business, it’s crucial to not spread yourself too thin by trying to take on all the different roles that can be easily delegated — because being in the weeds isn't going to allow you to bloom. When it comes to scaling your business, Kathy discusses pivoting quickly when the need arises, including having multiple revenue streams and passive income. Last but not least, Kathy reveals the importance of being attentive and adhering to wise advice that will propel you in the right direction.

References:

29% of small business fail because they run out of cash.
https://fortunly.com/statistics/small-business-failure-statistics/#gref
23% of businesses fail because they don’t assemble a good enough team.
https://fortunly.com/statistics/small-business-failure-statistics/#gref
72% of small business owners feel overwhelmed.
https://smallbiztrends.com/2017/09/small-business-owner-productivity-tips.html
19% of startups fail because of their failure to pivot.
https://www.wilburlabs.com/blueprints/why-startups-fail

Learn more about Kathy Caprino:
https://www.kathycaprino.com
https://www.linkedin.com/in/kathycaprino
https://www.twitter.com/kathycaprino
https://www.facebook.com/ElliaCommunications
Resources for Small Businesses:
Venture Forward study: https://www.godaddy.com/ventureforward
Up-to-date info on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com

The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.

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