Small Business in a Big World

October 6, 2009

Reasons Why Small Business Startup Fail-Part 2

Filed under: Uncategorized — itbiznez @ 4:18 am
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It is our misconceptions that lead us to business failure. We sometimes reroute ourselves away from the conventional elements which sometimes blinded us to the reality. On the surface, it is indeed essential that our business should comply with the basic elements so that you can start working on it, but you must be aware that you should always stick on these. It is not simply a requirement but also a backbone of your business.

Let’s take for example the business plan. We all know that for a business to function properly, there must be a business plan that must be follow. However, this idea is oftentimes neglected. The business plan for some is just a formality, wherein it is only needed to apply for a loan or to look for an investor. After getting the desired working capital, the business plan will suddenly out of the scene. Everybody should know that business plan is not just a formality, it is one of the most important part of the business. This is where the business process must rely and must not be taken for granted.

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