When the minuses weigh more than the pluses, you might be better off working for someone else.
Reason No. 1 is a familiar story. Smith Plumbing & Heating is "sick of battling with the customers, the low-ball competition, the lack of money ... I'm outta here," says Mr. Smith, who goes to work for a competitor or, nowadays, Home Depot.
Probably the real reason for the demise of his company is lack of business knowledge and failure to effectively price and market his services. Most businesses, in any industry, fail -- usually because the owner did not have the business skills necessary for success. I have been telling this story for years. However, there are other reasons that folks go out of business. Here are some of the tales I've been told, as they were told to me.