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Business strategy
Common mistakes to avoid during a business startup.
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[QUOTE="Good-Guy, post: 334073, member: 29109"] Many people think that starting any kind of business is quite easy process. People think that all they need to do is invest money and sit back and enjoy the show. However, I think that this is one of the biggest misconceptions out there. Starting any kind of business is not at all that easy. There are many different mistakes people should avoid at all cost. [B][I]Avoid investing what you cannot afford to lose[/I][/B] There are many people out there who believe that they should invest whatever they have. They could invest a money and their business would start generating cash. However, investing and creating a specific kind of investment portfolio is one of the keys to being a successful businessman. [B][I]You do not have a back up plan[/I][/B] This is also a huge mistake. You must always have a back up plan in case if your business fails to gain momentum that may required for it to survive in the markets. You must never rely on a single business strategy that would work for a short period of time. [B][I]You quit quite early[/I][/B] Many people start a business, but they soon close their business. This is due to the fact that they think that their business is not generating enough money. However, conducting business requires a person to be patient. You may never gain success overnight. [/QUOTE]
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