Tag: business rules

Business failure

5 Warning Signs You are Heading for Business Failure

Unfortunately, according to the Small Business Administration, 50% of startups will face business failure within the first five years. No entrepreneur intentionally starts a business with the intention of it failing. Those who make it have the knowledge, skills, strength of mind, and will do whatever it takes, to create a successful business. Nevertheless, others will treat their business like a glorified hobby and expect it to succeed.

Starting up and running a business is not for everyone. The statistics of failed businesses are alarming. If you want to be fruitful, there are pitfalls you must avoid to reach your goal.

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Basic Market Research Action Plan to Kick-Start Your Business

Are you considering starting up a business? To make sure it stands a chance of succeeding among the millions of other businesses, carry out market research first. Creating a market research action plan is a vital part of your business groundwork. It’s great to have a wonderful business idea in your head, but who are your customers?

Don’t fall into the ‘I want to start my business now’ trap. Do your homework first.

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10 Business Rules You Should Live By

While having the right business ideas, strategy and execution matters, something much more important that many people ignore when it comes to building successful businesses is this:

PRINCIPLE.

Successful business owners are guided by certain principles and rules, and often these rules end up influencing their success.

If you want to build a successful business in this 21st century, you need to live by these rules; they’re kind of like the 10 commandments of building a successful business.

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