Eight out of 10 small businesses fail in the first 18 months. I ran my own small business for a dozen years, taking it national and then selling it. I have also acted as vice president in three other businesses with 10-100 employees, coached CEOs, mentored startups at MIT, and have many small businesses as clients. As a result of this experience, and talking with countless other small business executives, I believe that these are the five main reasons why so many small businesses fail:

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