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"You really want to start your own business but don't know where to start?" or "Why is your current business not growing?"

• You will spend hundreds of hours on research - yielding $0
• Hundreds of hours researching the Internet - yielding a multitude of business services. Some good and some bad - yielding $0, but costing you $. But which ones?
• "I know what and where I want to go, but don't know how to get there."
• What type of business should it be, Sole Proprietorship, Limited Partnership, Limited Liability Company (LLC), Corporation (S or C)?
• What are the advantages and disadvantages of each?
• Which one should I plan on using?

Starting a business can and is confusing, things get blurry and down right difficult!

The latest statistics from the Small Business Administration (SBA) show that 66% of new employer establishments survive at lease two years, and 44 % survive at least four years. There was a previous belief that 50% of businesses fail in the first year and 95% fail within five years.

Why? You know that's a big question. There is a lot of information why this happens. We will touch on a few factors that contribute to a business failing.

• 78% - Lack of a well-developed business plan, including insufficient research on the business before starting it.

• 73% Being overly optimistic about achievable sales, money required and about what needs to be done to be successful.

• 70% Not recognizing, or ignoring, what they don't do well and not seeking help from those who do.

• 63% Insufficient relevant and applicable business experience.

• 82% Poor cash flow management skills/poor understanding of cash flow

• 79% Starting out with too little money.

• 77% Not pricing properly - failure to include all necessary items when setting prices

• 64% Minimizing the importance of promoting the business properly.

• 55% Not understanding who your competition is or ignoring competition.

• 47% Too much focus and reliance on one customer/client.

• 58% Inability to delegate properly - micro-managing work given to others or over delegating and abdicating important management responsibilities.

• 56% Hiring the wrong people - clones of themselves and not people with complimentary skills, or hiring friends and relatives. by Jessie Hagen

• Lack of Focus - loss of motivation, complacent, waiting for them to come to you.
• Distractions - Family, Social, financial