Tuesday, September 17, 2013

All Business Is Risky Business

Well, here's a painful thought for business owners ...... "When a business fails, it's the owners fault." Wow! No pressure there! That was one of hundreds of subjects presented and discussed at our America's Small Business Development Centers' annual training conference last week. New business owners are over-worked and under-capitalized; and while they are to be admired for their persistence in getting the door to their businesses open in spite of cash shortages, a business' chances of survival can be greatly enhanced by just waiting a little longer and saving a little more money either for a "cushion," or perhaps to hire someone to help right from the beginning. Business owners tend to think they can be all things: entrepreneur, manager, marketer, computer technician, etc. The fact is that most people can be only one ... maybe two ... of those things and do them well. After that, they're a danger to themselves and their employees' sense of security ... a business owner spread too thin or working in an area for which he or she isn't qualified puts everything at risk.

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