Whether you are currently running a business or thinking of starting up a business, here are few things that you need to know to help you avoid the business to fail. These are also seven things that businessmen wish they knew before their business failed. 1. Exhausting Your Start Up Funds. Extra money runs the business. Without it, the business is almost impossible to survive. The most common mistake of new entrepreneurs is using up all their capital to launch the business and depend on the profit for the business expenses, bills and dues. There is a six-month-rule in starting up a business. During this period, all the business profits should go to the business alone. You shall not take anything from it to establish the business and let it grow. However, an extra cash is necessary for a lot of unexpected business expenses. 2. Concrete Plan. I know that it’s exciting when you first come up with an idea about a business you want to start up. However, planning for the launching ...
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