Starting a business is more than just having a very good business idea!
Although sometimes difficult, getting a good business idea is only the beginning. A good preparation is needed in order to make sure the business is successful. Many entrepreneurs start a business and fail because they did not prepare adequately. A typical scenario is for new entrepreneurs to pick a business idea for which they do not quite have enough capital but do not necessarily know it. They guess that they can financially do it and just go ahead and set up the business place, buy the inventory and everything else, confident that the minute they open their doors, customers will start pouring in.
Most new entrepreneurs think that their products or new store is so great that people cannot help but come shopping. They neglect to do a market study to learn about their customers and they fail to let potential customers know that they exist. After going on a shopping spree for their initial set-up, they run out of money before they can do anything else. They count on the first few sales to get money to both live on and advertise.
However, they soon find out that it takes more time than they originally anticipated to make enough sales to keep going. They just run out of money and have to close shortly after having started the business, especially when they have some overhead. The more overhead they have, the more expensive it is and the less time they will last, because it is more than they can sustain. This is quite sad because often, the business idea is indeed very good and has a lot of potential.
This is the kind of situation that preparation will avoid and that the book Whiz Biz in Changing Times explains. We will also explore this issue and several more in the upcoming FREE online business seminar series starting this month. See the details on WhizVentures.com. To see the other issues that we will explore, see the Table of Contents of the book. When we have a business, we must wear many hats, but it is not that difficult when we know what to do!
For the whole month of February, I am offering you a 20% discount on the purchase of the Whiz Biz in Changing Times book (all the tutorials and seminars are free). The Whiz Venture initiative (all the free stuff) is financed by the sales of the business books. Just click on the link https://www.createspace.com/3362471 and enter the coupon number 2CU44DRA after getting to the checkout. And, if you know a teenager who wants to start a business, there is also the Whiz Teens in Business book, which even includes a chapter on how to manage parents! You can use the same discount coupon with the following link: https://www.createspace.com/3356877. Find out more about the books at http://www.daniellevallee.com/books (Table of Contents, book description, formats available, etc.) The books are also available on Amazon.com, but the discounts are only through the CreateSpace e-store (an Amazon company).
If there are any specific topics that you want to discuss, let me know!
This BLOG is originally published by Danielle Vallée at http://blog.whizventures.com
