”This book is your chance to learn from others’ mistakes.”– Entrepreneur

In the 1960s, IBM CEO Tom Watson called an executive into his office after his venture lost $10 million. The man assumed he was being fired. Watson told him, “Fired? Hell, I spent $10 million educating you. I just want to be sure you learned the right lessons.”

There are thousands of books about successful companies but virtually none about the lessons to be learned from those that crash and burn. Now Paul Carroll and Chunka Mui draw on research into more than 750 flameouts to reveal the seven biggest reasons for business failure.

Reviews

Wow. As a small business owner I learned a great lesson from the BIG guys. Acquisitions, mergers or takeovers fail well North of 70%. As someone who had in his business plan to buy out a competitor, I’m seriously thinking twice and doing 3x the due dillengence than I thought I needed.

If you are an aggressive small to medium business owner spend a week reading this book if only to see how people over pay for a business only to lose billions on the back end because of reasons seen and unseen.

Company culture, IT systems, fake accounting all the into this theme. Again, read this book if only to second guess yourself if you are thinking about buying out another company. Eye Opener!

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