Groups > Starting Your Own Business

"rather screw a bucket of rusty razor blades.." WoW , don't know why I've never heard that one before, but I'm gonna steal it at my first opp!

We know that 90 % of the times new businesses fail because of lack of planning. A business plan is a simple yet vital part of the success of any new venture. Entrepreneurs deserve to have it. If new entrepreneurs dont have the experience, should always find a good mentor/financial planner.

Have a formal WRITTEN business plan. Have finances to pay all your bills for six months. You MUST be in the black by 6 months. Maybe not quite at the place you are paying all your bills in 6 months of being in business, but if you are not profiting, you are barking up the wrong tree.

Face facts, most businesses fail. Yours will probably fail too. You will spend most of your efforts keeping your business in the black for the entire time you are in business for yourself.

Do you have the work ethic and devotion and finances to put this kind of effort into the business? If not, get a regular job.