| Why are some businesses an overwhelming success | | | | business are: |
| while others never make it off the ground? What is it | | | | |
| that differentiates the two? | | | | 1. You must be passionate about what you are doing. If |
| Surprisingly it isn't a question of money or education. | | | | you are not passionate about your business it will be |
| There are many businesses that have had such | | | | easy to become disheartened during the hard times. |
| humble beginnings as a spare bedroom or even a | | | | Building a business takes dedication and persistence |
| dining room table yet have gone on to become market | | | | and money should not be your only motivator. |
| leaders. There are also many businesses who have | | | | 2. You must follow proven business principles. Your |
| had highly educated people at the helm along with | | | | business success or failure depends on how well you |
| some serious financial backing and yet they still failed | | | | manage your resources. These resources include your |
| dismally. | | | | staff, your finances and your paperwork. Many people |
| Statistics show that businesses that succeed share | | | | thinking about starting their own business become |
| common characteristics. Likewise businesses that | | | | overwhelmed with the legalities and paperwork that |
| never get off the ground or close their doors after | | | | they need to attend to before they can open their |
| only a few short years have usually made some | | | | doors or attend to their first customer. There is just so |
| common business mistakes. | | | | much to do and sometimes it can be tempting to cut |
| These characteristics and traits apply to all businesses. | | | | corners. This is understandable when you are keen to |
| Whether you are starting your business on a shoe | | | | get your business up and running. But you should |
| string or have a substantial budget, if you are working | | | | always make time for conducting market research |
| from home or from a 10 000 square foot warehouse, | | | | and for writing your business plan. Statistics prove that |
| if you have no staff or twenty, if you are selling a | | | | businesses that have completed some form of market |
| product or a service, if you are producing your own | | | | research and have a business plan will greatly improve |
| products or selling somebody else's, these dos and | | | | their chance of business success! |
| don'ts apply to you. | | | | There are other factors that influence the profitability |
| To increase your chance of business success you | | | | and success of your business. However if you get |
| should try to emulate those who have achieved what | | | | these things wrong it will not matter what you do right. |
| you want to achieve. There is also much to be learned | | | | By not having appropriate administration, staffing and |
| from the mistakes of others. This way we will not | | | | financial controls in place your business will not grow to |
| repeat them ourselves. | | | | its full potential. Nor will you be able to take advantage |
| Two of the most important tips for starting a small | | | | of business opportunities when they arise. |