We are pretty social:

| Education and Financial


Business opportunity: Is your start up business doomed to fail?

Anyone who has been pushing pencils for decades or is tired of answering to the same boss and doesn't feel as thought their job prospects or career advancement are going to start showing signs of life any time soon often contemplate taking their future into their own hands.
And typically that starts with the notion of starting your own business.
Although that idea often is met with much optimism, anyone who has any business acumen or sense knows that there is a lot of work to be done, and truly no guarantees that your idea is going to actually turn a profit any time soon.
Simply put, your business plan might be your ticket to financial freedom and breaking away from that desk job but could easily transform into a lot of wasted time and, more importantly, money.
Speaking of money, you want to make sure you have plenty of it and that the total dollar figure coincides with your business plan. Why is a business plan so important? It's those pages upon pages of detailing your idea and how you plan to make money that will be how the bank determines if your idea is worth lending you money.

Like this article? You should check out all our Incorporate.com discount codes!

But even a loan isn't going to protect you if you're not borrowing enough to last for only a few months. Realistically, you're not going to turn a profit for at least a year or more, so make certain you have enough of your own money or financing in general to cover expenses for that duration.
Money also should be allotted for some sort of marketing plan. Far too many would be business owners have a fantastic idea but fail to understand the importance of getting the word out to customers or think the product will sell itself with very little effort.
There's a reason ads at the Super Bowl cost millions for only a few seconds. Advertising still is paramount in putting your business on the map. If you believe otherwise, you had best take some of that marketing budget to but an "out of business" sign.
Aside from cash flow issues, businesses probably don't do well for one other huge reason: you. OK, so maybe not you specifically but if you take on multiple partners or co owners, you had better be certain your philosophy and vision for the business is spot on with the rest of your management crew. And if you can't agree totally on what you expect out of the business, then make sure you design roles for everyone's strengths.
Otherwise, your business won't last long and is destined to be a full fledged flop.

Like this article? Sign up to get similar articles sent to your inbox:


Online Stock Trading No Longer Just For Seasoned Money Pros
Changing The Game: The World Of Purchasing Insurance Has Changed For The Better Or Worst.
Changing The Game: The World Of Purchasing Insurance Has Changed For The Better Or Worst.
Changing The Game: The World Of Purchasing Insurance Has Changed For The Better … Or Worst.


Keycode is headquartered in Las Vegas, Nevada. We are constantly striving to improve our service to both advertisers and consumers. We invite you to join our social community and provide us with feedback.

the best of our keycodes
Straight To Your Inbox