Most businesses fail because they treat profit as an afterthought instead of a priority. A business owner's personal finances and business finances are linked: when one struggles, the healthier one drains the weaker one. You have to nail the numbers in both places separately.
My gosh, most businesses are not profitable because the formula is wrong. And that's why I wrote Profit First. We're told that profit comes last and behaviorally is human nature. When something comes last, it never happens. But then I noticed another, and this is what brought about The Money Habit, another pattern was that a business's health is only as healthy as the financial at home is or the financials at home are. So if the business is doing well, but the home is struggling, it starts to leech off the business or vice versa. I've seen people prepare for their future at home, save for retirement or whatever, however they want to activate those funds, and the business is struggling to take flight. It starts to eat off the home. So that was the realization. My gosh, we need to nail the numbers on both fronts.
