In most new business attempts, the entrepreneur never leaves their day job, or they create a back-up plan, or they have a job lined up in case the new business fails. In these cases, failure IS an option. Couple that with this; if you're not totally committed to your business, your chances for success will be greatly diminished.
We often read that the number one cause of start up business failures is poor management. The US SBA says it is lack of experience, which can be read as the same thing.
My own assessment after starting 4 moderately successful businesses is that it boils down to - "No Business Plan".
How many times to we seen here - I want to start a business. How should I price my pens? There is a heck of a lot more to starting a business than pricing pens.
Those who are successful, and you know who you are, what would you advise a new comer starting up to do - before beginning to sell pens.
My first item would be Write a business plan. There are a lot of places where you can get help with this. SCORE if there is a chapter nearby can be a big help with this.
We often read that the number one cause of start up business failures is poor management. The US SBA says it is lack of experience, which can be read as the same thing.
My own assessment after starting 4 moderately successful businesses is that it boils down to - "No Business Plan".
How many times to we seen here - I want to start a business. How should I price my pens? There is a heck of a lot more to starting a business than pricing pens.
Those who are successful, and you know who you are, what would you advise a new comer starting up to do - before beginning to sell pens.
My first item would be Write a business plan. There are a lot of places where you can get help with this. SCORE if there is a chapter nearby can be a big help with this.