Why Do Shops Fail? | Machine Shop Talk Ep. 25

In this episode of Machine Shop Talk, Ian Sandusky discusses some of the reasons why machine shops fail and shares some valuable tips. Why do machine shops fail? Like for any other business, the causes can be many. Business and financial decisions typically play an important role in the unfortunate event of a shop bankruptcy, but external factors, such as economic conditions or unexpected events can play a pivotal role as well. Many internal factors can lead a shop to fail. In the video, Ian pinpoints three of the most common ones: Failure to diversify Not maintaining an adequate cash flow Growing too quickly Do you agree with Ian? Share your thoughts and experience in the comments or join the conversation on Practical Machinist's forum: https://www.practicalmachinist.com/vb... Stay tuned for more machining videos! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Practical Machinist is the largest and most engaged #metalworking community across the web. With more than 160,000 registered members and 300,000+ social media followers, Practical Machinist is the easiest way to learn new techniques, get answers quickly, and discuss common challenges with your peers. Visit Practical Machinist today to join the community and start connecting with your peers. Become a Practical Machinist member (https://www.practicalmachinist.com/) Like us on Facebook (  / practicalmachinist  ) Follow us on Instagram (  / practicalmachinist  ) Follow us on Twitter (  / prac_machinist  ) Connect with us on LinkedIn (  / practical-machinist  ) #metalworking #shopmanagement #machineshoptalk