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Article from THE-RESUME
Top ten home business mistakes
June, 16 2003
You
have dreamt of owning a business, no matter how small it may be
(well, at least initially). Many people like you are pursuing self-employment
opportunities today for various reasons. You may want your own business
for the self-satisfaction that it provides, desire for independence,
limited job opportunities, downsizing and restructuring of corporations,
downsizing of work forces, and threats of lay-offs.
However,
majority still fails to translate their entrepreneurial dreams into
reality. The number one culprit? You, the would-be entrepreneur,
is usually immobilized by your fear of failure. It is true that
starting a business is one big risk - and companies do go out of
business! To improve the chances of the success of your home
business, here are some common causes of business failures that
you need to know (and hopefully, avoid).
1.
Failure to do market research. Many businesses, whether
home-based or a large corporation, fail because there is not an adequate
market for their products or services. A comprehensive analysis of
the business is especially important for home businesses, since some
businesses lend themselves well to a home-based environment, while
some do not. If your business requires you to see clients, you must
first check how your family (and neighbors) will react to the comings
and goings of people in your house. If you have employees, check the
zoning and parking laws in your area. Before starting any business,
it is necessary that you conduct a thorough market examination and
market analysis.
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