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(1)There are some common reasons that small businesses fail. (2)One is managers who don't have enough knowledge or experience. (3)Some people think that managing a business is just "common sense." (4)But if managers do not know how to make basic business decisions, they are unlikely to succeed in the long run. (5)Another reason for failure is neglect. (6)After the excitement of the grand opening, some business owners fail to focus on business as much as they should. (7)Small-business owners who are unwilling to work long hours and perform many jobs are likely to fail. (8)A third common reason small businesses fail is poor record-keeping. (9)By keeping careful track of sales and costs, a manager can spot serious troubles and make changes before it is too late to do so. (10)Finally, many small businesses fail because of lack of money. (11)Here is a well-known rule of thumb: A new business should have enough money to operate at least six months without earning a profit. (12)Owners of new businesses are almost certain to fail if they expect to pay the second month's rent from the first month's profits