Building a business is a difficult process that results in failure for the vast amount of small business owners, and this failure occurs rapidly. This very dire fact means that most businesses fail within their first three years of starting. Small business owners comprise the largest realm of entrepreneurship although the mega rich get the credit. There is much to consider even before starting an entrepreneurial endeavor, and even these factors that are present before a business starts can prevent success in many cases. In order to become an entrepreneur, these initial steps and many more must be forded in order to make dreams reality. There are steps, but there are no shortcuts or streamlined processes. However, there is some sage advice that will prevent easy mistakes because it is often oversight in the minutia of a business that sinks many endeavors. Learn more: https://www.facebook.com/marc.sparks1
One of the most common mistakes is failure to research the common mistakes made by other entrepreneurs in the chosen business path that derails most of the start ups in the field in order to avoid them. It is also important to remember that the education process is ongoing. Every market changes and failure to keep up with these changes can derail a business at any level, or any business that is experiencing any level of success. Research is probably the most important part of the pre-planning process also, it allows budding entrepreneurs to set a course for their business that is at least feasible. Learn more: http://www.prnewswire.com/news-releases/entrepreneur-marc-sparks-transforms-office-to-optimize-innovative-collaboration-300024747.html
Before you open your doors, it is important first to research the structure of your business. In order to structure the business successfully, research beyond the common LLC structure. This seems to be the simplest business structure to list your business, but there are many different business structures that may be more appropriate and beneficial both in profit and for tax purposes. This will determine somewhat what the tax burden for your business will be including state, federal, property, income and if necessary, payroll taxes. In fact, this sector of planning may determine if the business is feasible at all, but at least it will before much expenditure in time energy and money is made. Learn more: http://www.marcsparks.com/
However, having a mentor is probably the greatest determinant of success because inside information is hard to obtain because competitors are not in the business of helping their opponents succeed, and make no mistake, others in the business are competitors. Marc Sparks is one of those successful entrepreneurs that bucks the trend. He improved my business, not in person but because he is always granting interviews and otherwise disseminating information in order to help budding entrepreneurs like I once was.