Why Small Businesses Fail


small-business-loan-why-fail-avoid-tipsHearing your boss and colleagues nag five days a week at eight hours a day gets old.  Add to it the insult of being underpaid for excessive amounts of work makes your current employment situation unbearable.  But you need a job.  You need to pay the bills.  So why not start your own small business.  With the right cash flow, attaining a small business loan and bringing forth an endless supply of determination, you can transform any small business into a huge financial success.  Here are the top two mistakes small businesses make.  Be certain to avoid them at all costs.

No Strategy Mapped Out

You need to plan out what occurs during the good, the bad and the ugly of your business.  How will you handle tough economic times?  Where will you attain funding to cover operating costs when profits drop?  These are all scenarios which a small business must prepare for.  Under this category, include your advertising, promotional and marketing plans.

Taking Too Much Time Off

Just because you are your own boss does not mean you can slack off in the dedication department.  Actually, the opposite is true when running your own company.  You need to dedicate time and hard work to your start-up period.  This same devotion needs to continue throughout your entire career.  It is your name and your company’s reputation on the line.  If things go sour, it falls upon your shoulders.  Work twice as hard for yourself to ensure you reach your career goals.

To find out more how to cover start-up costs, contact one of our small business loan experts today!

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