Small Lubbock Businesses Keep Killing Themselves And I Know Why

I respect and admire small business owners very much. It takes a massive amount of grit, bravery, and skill to maintain a small business, which forms the backbone of our local economy.

Between working in an industry that specializes in promoting local business, and my immediate family owning a local business for over 15 years, I've learned a lot... and I've seen many, many Lubbock businesses meet their demise. Sometimes it was through no fault of the proprietor, but more often than not, it absolutely was the fault of the owner that their business did not make it.

20% of new businesses fail in the first year and 50% fail in the first five. How are small businesses killing themselves, and how can new ones avoid making the same mistakes? I can give you a ton of reasons, but I'll be as brief as possible.

In no particular order, here are all the ways you can end up a statistic instead of a successful business owner.