Lacking Business Experience

Building your own business in America is the high road to becoming a self made millionaire. But this is not as easy as it sounds. Most businesses started by inexperienced people fail. The primary reason why people do not start businesses is because they are afraid they are going to lose their money and for good reason. Ninety nine percent of businesses started by people Lacking Business Experience fail within the first five years.

And why is that? It is because they do not know how. They haven’t the slightest idea how to make a business successful. They may have a great idea for a product or service, but they do not know all the things they need to know in order run a successful business.

However, surprisingly enough, eighty percent of businesses started by experienced businesspeople succeed. Now why should this be so? The reason is because experienced businesspeople know what to do. They know how to purchase their products and services. They know how to negotiate with their suppliers and raise money. They know how to negotiate leases as well as how to sell and market. They know how to manage their finances. In other words, experience is the key. In order to start your own business and succeed, you have to learn how.

The second reason businesses fail is because of poor cost control. They may be selling enough on the front end, but they are losing so much on the back end they go broke anyway. Sales and marketing, financing and cost control, both require experience. And if you are serious about becoming financially independent, you will have to learn how to do both of these.

You must learn the skills needed to be successful. Business success is not a matter of luck, is a matter of application. It’s a matter of experience, skill, intelligence, and wonderfully enough, you can learn what you need to know to be successful.

And you can start by learning through on the job training. Most successful businesspeople become successful because they get all their training by working for someone else.

Here are a couple of things you can do immediately to make sure your business succeeds. First, take the time to get the knowledge and experience you need in business by working for someone else where you can learn a lot in a short period of time. Go to work in an area in which you are interested and learn everything you possibly can. Then, read and study business, especially entrepreneurial business, all the time. Read one or two business books per week and read every business magazine that is published on your subject. Never stop learning and growing.

“Remember, Success is Always Within Reach”

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