The Keys To Building A Successful Business

Before you even think about starting a new business, you need to take a brief self-assessment and determine if you have what it takes to become successful so you will avoid wasting your time and money. According to the U.S. Bureau of Labor Statistics, 34% of new startups go out of business within the first two years of operation and another 56% fail in the following two years, so clearly the statistics are not in your favor. If you want to succeed in business, you must first develop a written business plan and list your management team, assets, resources, and other people who will help you get it off the ground during the start-up phase. Learn to trust others and delegate responsibilities to them, then inspect what you expect. Be a hands-on type of boss that leads by example. Roll up your sleeves, now and then, and pitch in.

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