Validate Your Concept Without Spending A Fortune
Many studies show that businesses fail because they do not take the time to validate “vet” their business idea by building a minimum viable product and gathering feedback from potential customers. To expand on this thought, business failures happen not because the founder didn’t have money in the bank to invest or because they didn’t…Keep reading
Why Do Many Startups Fail?
For over four decades of starting and building businesses, and the last decade mentoring dozens of startup founders and CEOs, I have observed that there seems to be a set of reasons that startups struggle and fail. The US Department of Commerce has found that about 49% fail within the first 5 years. D&B found…Keep reading
What Is Your Business Exit Strategy?
Whether retirement is 30 years away, just over the horizon or not in your game plan at all, a succession plan is vital to ensuring the continued success of your business. A good succession plan can help with the following: Transfer ownership when the time comesMaintain your lifestyle in retirementProvide for your heirs financiallyPrepare the…Keep reading
A Simple Business Plan Format
Almost always successfully starting a new business requires a written business plan. In the past, I have been asked for my business plan format I used to start and manage my companies. The following format helped me focus on the implementation of action plans that supported my business concepts. To start, the business plan should…Keep reading
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