My Top 10 Tips For Staying In Business
Posted by Helen Dowling from Exceptional Thinking
on 18 March 2008
My top 10 tips for staying in business
by Helen Dowling of Exceptional Thinking
Each year about 440,000 new businesses start-up in the UK and yet each year and yet so many (around 60%) will close their doors within 18 months and walk away from what was their dream. So, why does it go wrong for so many? Well, the two biggest reasons are lack of cash and believe it or not, lack of motivation – the business owner no longer wants to carry on running their business. Bearing that in mind, here is my top 10 tips for staying in business.
Never, ever give up. Running a business is hard work and nobody tells you that before you open your doors. You’ll face dozens of hurdles before you make a success of it. But as my husband points out “if it was easy, everyone would do it”. So, make sure that you jump those hurdles and never give up even if you fall down each time.
Watch your cash flow. There’s a simple rule for running a business – if you can’t afford it, you can’t have it. Think about whether you REALLY need whatever item you’re after. If you do, look for cheaper alternatives – borrow it from a friend; look on e-bay; go to an auction and my favourite solution – think of a way to get what you want without spending any money.
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