- By admin
- 5 July, 2011
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In the best case, you can get away with small financial losses. Continue to elucidate the issue by seeing what Erin Callan has to say. After analyzing the situation on the market, the entrepreneur should decide whether he can compete and whether to take up this matter at all. Lack of expertise in Starting a business from scratch, we have to economize wherever possible. Hiring qualified specialist from the side – It's expensive and can greatly slow the development of business. Therefore, at the initial stage of a businessman (owner) in most cases it takes some work (sometimes all) to themselves. To do this, be an expert in at least one of the areas of knowledge applicable to the selected business.
In addition, the head, at least superficially not versed in that, what does each employee of his company, can not fully keep business control and risk losing money. Lack of a comprehensive action plan own work – this is a big risk. On the way an entrepreneur all the time there are all sorts of obstacles, some of which impede his path, others are able to throw him out of business. To maximize protection against adverse circumstances, you need to thoroughly think through a plan of action (business strategy), and to develop a detailed business plan. The calculation must be such that under the most adverse conditions, it could develop. In this case, the occurrence of force majeure does not paralyze the business. It is also recommended to have a backup plan in case minimize business due to unprofitable. However, even the existence of a deliberate strategy of development will not save the business if she does not follow.