Tag Archives: start a business

11 Apr

How To Do A Business Risk Assessment

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Can Your Business Survive

Ralph Waldo Emerson said, “Build a better mousetrap, and the world will beat a path to your door.”

But when you’re starting your own business, there’s no guarantee that your “mousetrap” is going to survive, especially in today’s fast-paced business world.

Nearly half of all small businesses fail within the first two years of operation. The number one reason for business failure is inadequate planning. The second reason is under-capitalization.

So, before you mortgage your house, or go into debt financing your business, you need to know if your business is going to do more than survive — you want to know if it’s good enough to thrive! Here are three things successful businesses that have stayed in business for five years or longer have in common:

1. The IDEA. A successful business start-up always starts with an idea, something that makes your    business stand out from all the rest. So, how do you know if you got a good idea?

You HAVE a good idea if you can answer yes to the following questions:

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08 Apr

Home Business Ideas

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Find the Right Business for You

If you think that starting your own business is the answer to your problems; whether it’s money, child care, illness, or a desire for more free time, then you MUST choose wisely.

Too many individuals eagerly leave their paying jobs in order to pursue their own business only to return to the unemployment arena looking for work and carrying a massive debt from their ventures.

How can you find the answer to your quest for self-employment without failing? The solution lies in the 3 Ds:

  • Desire
  • Discretion
  • Discipline

Desire

If you think that running your own business is merely a matter of using your brains, then you are sure to be disappointed. Successful entrepreneurs have a common thread whether they run a country gas station or a Fortune 500 company – DESIRE. If you don’t have the drive and determination to work for yourself – if you can’t give up the security of a regular pay cheque – you will have great difficulty working for yourself.

Discretion Read More