OK. I've given you a bunch of reasons why you should NEVER rely on a business startup package that seems too easy, guarantees your success, is the same for 
everyone, and prescribes the subject of your business.
They are pretty much doomed to failure even before the owner makes her very first sale!
Nationwide small business start-up statistics show that after one year of existence, only one in five new start-ups (20%) are still actively doing business.
And of the 20% of start-ups that make it after one year, only one in five is still operating after five years.
In other words, only 1 business in 25 makes it to the five-year mark.
That's a whopping 96% business start-up failure rate!
Those are pretty horrible odds, don't you think?
So here's your challenge: what are you going to do to become one of the four (4) business successes out of every 100 that start?
Put another way, "how are you going to approach your new business creation so that you will have the greatest chance of succeeding while so many others fail?"
Can you navigate the business creation path to success by yourself?
If you seek out a teacher or guide, whom are you going to trust to lead you in the right direction and increase your odds of success?
How much are you going pay for some personal assistance?
Most aspiring business owners consult books on the subject as the roadmap they rely on to guide them through the maze of business startup steps that must be taken.
In addition, there are some public agencies like SBA's Small Business Development Center that will assist with specific steps like creating a business plan and getting registered with the authorities.
There are also excellent online resources, community colleges, entrepreneur workshops, and other information based resources that will help you move along.
This web blog is set up for that purpose as well, if you decide that a Lone Wolf business strategy is right for you. It may not be . . . depending upon the type of business you decide you want.
Our focus here is upon creating and operating a solo, one-person, information business that is maintained on the Internet. The type of products we recommend are digitally produced and delivered so that the owner doesn't have to deal with inventory, shipping, and handling physical goods (although this strategy can be adapted to selling physical goods as well).
Why don't you join us and see what we have to offer?
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Post#27 |
Actually those are outdated stats. The new figures that have been released by the SBA have doubled. Even at that the numbers aren't great.
The number one reason for failure in small businesses is knowledge, knowing what to do and how to do it like understanding your marlkets and working with your customers, number two is money, number three is planning. No having it in your mind isn't planning. You have to write it down where it take the form of a real opportunity or disaster, and number four living on the edge, chance taking and making uninformed decisions.
In any case your warning and red flag should be listened to.
Posted by: Tim Whelan | February 25, 2006 4:39 AM | Permalink to Comment