Why Do Small Businesses Fail?

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Most American small businesses end in failure, despite the fact that many people dream of one day running a successful small business of their own. In fact, if you look ten years down the road from the start date of most small businesses, less than 5% of them are still around. If you become aware of the mistakes so many small businesses make, you can set yourself up for success with your own small business instead of setting yourself up for failure.

Poor location: If you have a small business, chances are you will probably have a storefront, and location will be important. Because of the anticipation of getting started, too many people jump into their business before it is truly ready to go. While they should be waiting for the "right location," they instead going with whatever becomes available, neglecting the fact that they will likely remain in that location for as long as their business remains alive. People also often settle into a poor location because they are saving money this way; but while they are saving money in the short term, they are losing money in the long term.

Saving money: Trying to save money on a location is not the only place where small businesses fail because they try to save money. Lots of small businesses hurt themselves in the long run by saving money in the present on presentation or creation. If you want people to spend money on your product or service, you need to first spend money to make it good and appealing!

Name recognition: People are already familiar with the big brand names, and this is one reason why they continue to draw customers. People are more likely to spend money on a product or service whose name they already know, which is why small businesses need to go out of their way to create name recognition. You can use advertising, promotions, an online presence, or even a combination of the above to start stirring up name recognition.

You can certainly achieve your dream of running a small business that sticks around for a while. But first, you need to understand that important steps you must take and mistakes you must avoid if you want to make it happen!

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How To Build A Free Website

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A lot of people are under the impression that they are going to have to spend big money if they want to build a website, as they will first have to pay for a server, and will then have to pay for a domain name, and will then need to pay big money for someone to do all the design work on the site for them, but while you can definitely spend big money in order to set up a website, it is also entirely possible to build a great website - that gains a lot of traffic - for absolutely nothing!

The first thing you will need to do in order to build a free website is pick a host that you feel will suit you best; there are a lot of hosts that allow you to build a website with them for free - with Tumblr and Blogger being just a couple of examples - and after you have studied up on these sites a bit, you will be able to decide which host will provide you with the templates that fit your tastes and the tools that fit your needs.

Once you have your host picked out and have set up your site with them, it will be time for you to pick a template; most of these free hosts provide their users with a great range of diverse templates - and best of all, you can usually customize these templates to a great degree, with nothing more than a few clicks of the mouse.

And after these first steps are all taken care of - picking a host, setting up your site, picking a template, and customizing your template - you will be ready for the final step, which is also the most enjoyable: populating this website with quality content!

The more effort you put into this website - creating content that is both unique and valuable - the more you will find you are achieving success with this site, and soon you will realize that you made the right move setting up a free website, as you will be able to achieve the same results you would have achieved spending a lot more money!

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The Seven Parts Of A Business Plan

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You might be at a loss as to exactly what it means to write the business plan for your company. Many people realize the importance of a business plan for a startup in need of a loan, but actually, a business plan is important for businesses at all points in their lives. A business plan provides you with a tidy, organized document that can give you direction and a definition of purpose. These are the seven elements you will need in your business plan.

1) Executive Summary: You will write the executive summary last, but it will be the first part of your business plan; it basically sums up everything you say in the remainder of the document.

2) Company Description: This part will detail your history up to the present if you are an established business, while it will detail your startup plans if your business is new.

3) Product or Service: You will use this section to not only describe your product or service, but to do so while keeping the focus on the customers themselves.

4) Market Analysis: Especially if you need a loan, this is a very important section. This section proves that you understand the market, what your customers need, and how you will reach them.

5) Strategy and Implementation: In this section, make sure you avoid any vagueness. Explain your company's structure and all of its strategies.

6) Management Team: As you dig into the backgrounds and histories of your key team members, this section can become an excellent selling point.

7) Financial Strategy: Especially if you are a startup company, you have to make sure you understand what you are doing in this section, providing detailed analysis and projections.

Whether you are an established business with your feet under you already or a startup trying to gain a foothold, a good business plan can be of great benefit to you and your future success. On the other hand, a bad business plan can keep you from getting the money you need, and it can keep your business from moving forward.

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