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Tough Questions to Ask Yourself Prior to Starting a Business

Businesses succeed - businesses also fail. Why? In his book Small Business Management (published by West Publishing Co.), Michael Ames gives us the following reasons for small business failure: · Lack of experience · Insufficient capital (money) · Poor location · Poor inventory management · Over-investment in fixed assets · Poor credit arrangement management · Personal use of business funds · Unexpected growth Gustav Berle in The Do It Yourself Business Book (published by Wiley Co.) adds two more reasons to Michael Ames' list: · Competition · Low Sales A franchised business will address a numbe

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