So you’re starting a new business, you have big dreams of success, but are you prepared for all the world of business is going to throw at you?
The rewards of running your own business are clear for most to see. There’s the pot of gold at the end of it if you do things right, the work / life balance you’ve always dreamed of, but perhaps more importantly, being able to control your own destiny.
Not everyone can be born with a silver spoon in their mouth, but you can sure climb your way up through the money ladder if you do things the right way. There are almost endless ways to generate a truckload of money but one ……… stop working for others.
Does this mean everyone who start working for themselves succeed in making huge amounts of money? Of course not! In fact, more than half of US startups fail to make it past their 5th year.
But then there are huge success stories like Microsoft, Google, Facebook and countless more. Do you think working for others would have led them to the success and fame they are enjoying now? I highly doubt that.
There are infinite rewards of having your own business …… just like the inestimable obstacles and setbacks on the way. That’s why you need to be very cautious in how you proceed ahead through the treacherous path of entrepreneurship.
Incidentally, this cool infographic by Technorian.com highlights 56 reasons that can result in demise of a startup. Those are complemented well by 45 experts from around the world with their words of wisdom. Hopefully, you can learn many things from it about how to move ahead rightly with your startup.
It isn’t all plain sailing though, running a business comes with many speed bumps along the way. But fear not, the guys at Technorian share the most common pitfalls for you to avoid in the infographic below.
Infographic by: technorian.com