Common Mistakes Small Businesses Make and How to Avoid Them

Unfortunately very few start up businesses make it beyond their 3rd year. Failure is usually down to a number of clearly identifiable mistakes, which if small business owners are aware of, can increase their chances of survival. Here are the top 10 common mistakes which small businesses tend to make. Lack of Market Research When a budding entrepreneur comes up with an idea for a new business he assumes that because he would buy such a product or service then everyone else will. This may be the case for day-to-day necessities but for other items this is usually not so. It’s important that when you start up you carefully research the market to check that: • There is demand at …

How To ‘Toss Your Boss’ And Go Into Business Yourself

The Easy Way: Top 10 Tips On Buying A Pre-existing Business Maybe you’ve always wanted to be an entrepreneur, or maybe you’ve just decided you are sick of working for someone else. Whatever your reason, the prospect of starting a business is exciting, but daunting. If you’ve looked into it, you probably know the statistics: 96 percent of small business startups fail in the first three years. Who wants to risk those odds? Fortunately, there is a better way to become your own boss, with a much higher success rate. You can buy an existing business and skip the startup struggle. Sounds great, right? Before you plug “business for sale” into your favorite search engine and start looking for offers, …