Launch a Business
On Launching a Business
Launching a business is an exciting endeavor. Many businesses succeed, but many businesses fail. Perform deep and diligent research about your industry and about businesses in general. You will need capital - money and resources, and you will need a fund reserve to carry you and your family over while the business starts producing. Set targets and constantly evaluate your business to assure that you are meeting those targets.
I've instructed would-be entrepreneurs to sit down, close their eyes and think, "How will you feel when you are successful with your business? [their answer] Great, how will you feel if the business is not working out and you are out of money? [their answer] Now open your eyes: It will be worse than you think!! You must take this seriously."
If you have a solid business idea, act on it, but know when to obtain competent support in finance, accounting, operations, management, marketing and sales, and legal advice.
