Here are some points to note for unsuccessful entrepreneurs
High Risk Taking
Surprisingly, good entrepreneurs are not extreme risk takers. They are attracted to situations where success is determined by skill and hard work rather than by chance. Think of starting a business as going on a roller coaster ride. The ups, downs, twists, and turns usually come in a rapid sequence; starting a business is no different. The entrepreneur is not afraid to take on a project that might fail, but s/he also works to minimize the risk.
Poor Planning
The idea of starting a business is very exciting, and many fledgling entrepreneurs rush through the process. Entrepreneurs need to spend countless hours studying information about market, marketing, finance, management, and other areas before they can open for business.
Overestimating
There is nothing wrong with optimism, but expecting sky high profits during the first month of operation is very dangerous. Wise business owners keep their sales projections reasonable and know their limitations.
Impatience
Unsuccessful entrepreneurs become discouraged if they don’t show a profit after the first month. Smart business owners appreciate the amount of time a business needs to grow.
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