Wednesday, December 05, 2007

10 Small business start-up sins

With the New Year ahead, many wanna-be entrepreneurs are considering starting their own businesses. Here is a must read for anyone who is considering the leap to the world of independence. One way to ensure that you do not fall into these ten traps is to have a great team of advisors who can guide you through the process of starting your own business. The major sins include:

1. Not learning from one’s mistakes
2. Forgetting one’s personal life
3. Expecting customers to come to you
4. Losing one’s soul
5. Maxing out credit cards
6. Keeping ideas to oneself
7. Not using written contracts
8. Starting a business without passion
9. Selecting a bad location
10. Trying to go at it alone

Read the rest of the article

Good information for those starting a business or even operating an existing on. Use this information to keep your Business N Synergy

2 comments:

Mel Eldridge said...

Interesting post. I want to run a business soon, so I'll keep this post in mind. Becoming, what I hope, an entrepreneur is somewhat new to me, so I can use all the help and advice I can get! I know it'll be tough. Lately I've been thinking about the idea of buying a business instead of starting from scratch. I'm not sure what I should go for. Franchise? Home-based? I don't know. Do you have any suggestions or advice? Thanks!

Victoria Cullen said...

@Mel -- You're right. It will be tough running your own business, but if you stick through it, it can be extremely rewarding. If you really do want to be an entrepreneur and buy a business, then I suggest searching the Internet to what is available in your area. There are sites, like BizTrader.com, which are online global marketplaces where you can buy and sell businesses. They can also provide you with additional resources like finding a lender, broker, etc.
I also suggest checking out current books and magazines for help and advice. Local small business groups can also be very helpful, and it doesn't hurt to network.
Good luck!