Wednesday, July 7th, 2010
The simple facts are that 33% of all new business will fail within their first six months of operations, 50% will fail within their first two years and 75% of all new businesses will fail within their first three years of operation.
The primary reasons why most businesses fail are as follows:
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Wednesday, July 7th, 2010
Stage 1 – The Idea or Concept
In this stage, the “business” is not really a business – it is merely an idea in the mind of the prospective business owner. He/she has a dream or a vision. Their idea or concept may be well thought out or could still be in the formative stages.
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Wednesday, July 7th, 2010
Do You Really Need Help?
Every successful business owner seeks professional help at some juncture in their career. Most will seek legal advice and incorporation counsel in the early stages. Some will seek advice from financial advisors, bankers, and other lenders before their business even opens its doors.
There is much wisdom to be found in those who focus on the thing that they do best, and leave the rest for those who do what they do best. Presumably, you know your business, its heart, its direction, and its potential, better than any other individual. That alone however does not make you an expert in law, in finance, in marketing, in advertising, in IT services, or in accounting.
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