7 Tips for a Successful Startup

[mandy]

You probably realize that startups experience an inordinate amount of failures. Of course, starting any new business is fraught with risks.

However, these risks can be minimized with the proper planning. Based upon my experience in owning and advising businesses, I have come up with seven tips for the budding entrepreneur.

First: Have a Formal Business Plan

A formal business plan is a key element to a successful startup. The reason is that creating such a plan forces the writer to take a broad view of his or her business and include in this view everything from financial information to marketing data, personnel plans, and so on.

By writing down every imaginable aspect of your startup -- its goals, budgets, target markets, etc. -- you are compelled to picture what your company will look like in the future and, more importantly, how you will successfully bring it to that future...

full article: http://ecommercetimes.com/story/smb/60475.html