How to Predict if your Business Idea Will Fail
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IF YOU\'VE GOT A BUSINESS IDEA THAT YOU THINK COULD MAKE YOU RICH,
READ ON TO DISCOVER WHY "THINKING POSITIVE" COULD BE THE WORST THING
YOU CAN DO... AND WHY A BIT OF NEGATIVE THINKING COULD SAVE YOU A LOT
OF TIME, EFFORT AND MONEY
Starting a new business can be one of the most exhilarating times of
your life. Whether you've got a great invention, are about to launch
the next "Dot-Com Success" or are just opening a small store.
_"There is nothing 'positive' about losing your house because you
turned a blind eye to the warning signals before you spent your first
dollar."_
The possibilities become intoxicating, as you see the path ahead of
you. Working when you want, for who you want, and potentially making
enough money to retire early. The rewards can be huge.
But the risks are also high. Sadly, as you probably know, MOST
BUSINESSES FAIL within a few years. Even if they stay alive - the
owners often find themselves trapped in a business that is nothing
like the one they thought they set out to build. They spend every
waking hour trying to stay afloat.
The worst part is, MOST OF THESE TROUBLES COULD HAVE BEEN PREDICTED
while the whole business was just an idea kicking around in the
would-be owner's mind. It's often in those initial steps that the
course to failure is set weeks, months or years down the line.
The reason they didn't see this coming is simple...
NEW BUSINESS OWNERS MAKE A CLASSIC MISTAKE - FOCUSING ON THE REASONS
A BUSINESS VENTURE SHOULD SUCCEED, RATHER THAN WHY IT MIGHT FAIL
Society constantly teaches you to "think positive." You're told that
even considering the possibility of failure might put you off, so just
keep thinking of all those happy customers to come. But, ironically,
if you want to succeed - you must pay attention to why you might fail.
The logic behind this is simple: ONE SINGLE THING IS NEVER ENOUGH TO
MAKE YOUR BUSINESS SUCCEED. BUT ONE SINGLE THING IS OFTEN ENOUGH TO
MAKE YOUR BUSINESS FAIL.
_"Business is inherently risky. The rewards are high because you can
virtually never predict if an idea will succeed. However, there are
ways to predict if a business will fail."_
For example, _ having customers_ will not be enough to make your
business succeed. If your price is so low that you are not covering
your costs, all the customers in the World are not going to help you
make a profit. However, _ having no customers_ will AUTOMATICALLY LEAD
TO FAILURE.
_Having lots of money_ will not make your business succeed on its
own. If you
