Passion, vision, tenacity and drive—these are all traits common to start-ups and entrepreneurs. Opening your own business can be one of the most exciting yet scary moments in your life. And that fear comes with good reason, too—more than half of those in direct sales, consulting, retail and the restaurant business fail within five years. And long-term, only 1 in 10 startups actually make it.
But that’s not to say all is lost. There is much to be learned from the 10 percent of businesses that do make it. This Blue Paper® will outline the traits needed to succeed as a business owner and considerations including the need and marketability of your product or service. It will also provide tips on developing a budget and raising the required funds to get your startup off the ground as well as resources both online and in your community.
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