10 Mistakes Not to Make When Starting a Business
Written by Jay Hearst
Lead the Charge to Business Success: A Guide to Starting and Running a Successful Business Based on Lessons Learned at the School of Hard Knocks (2004; Sales & Marketing Professionals Publishing; ISBN: 0-9747667-0-4; $19.95) — written by been-there-done-that entrepreneur Jay W. Hearst … Here, excerpted from his book, are Hearst’s “Top 10 Mistakes Not to Make When Starting a Business”:
- Mistake #1: Misjudging the Consumer’s Desire for Your Product or Service
- Mistake #2: Underestimating How Much Time Your Business Will Require
- Mistake #3: Setting the Price of Your Product/Service Too Low
- Mistake #4: Not Having the Requisite Business Skills
- Mistake #5: Choosing the Wrong Partner(s)
- Mistake #6: Not Having a Written Business Plan
- Mistake #7: Underestimating the Capital Required
- Mistake #8: Choosing the Wrong Location
- Mistake #9: Failing to Consider the Legal Aspects
- Mistake #10: Not Understanding the Numerous Employee Issues You Must Face
Quoted in the OSBDC Blog.
[small biz] [rural] [mistakes] [entrepreneur] [Jay Hearst]
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.
