10 mistakes that can cost you your business
Even the smartest small business owner can do dumb things now and then. Unfortunately, some mistakes can kill a company. Just ask Jeff Seifried, small business coordinator for the City of Aurora, Colo., and Peter Tourtellot, chairman of the Turnaround Management Association. They, along with other experts who prefer to keep their observations anonymous, have seen the best - and worst - of small-business operations. Here are 10 examples of common, but potentially deadly, errors committed by otherwise brilliant small-business owners. Don't make the same mistakes. Underestimating the importance of cash flow management Two woodworkers had a thriving business building interiors for retail stores. They did beautiful work and their customers were pleased, but it often took them 60 or even 90 days to pay the bill. Until the money…
