Success in business is never utomatic. It isn't strictly based on lck-although a little never hurts. It dpends primarily on the owner's foresight and rganization. Even then, of course, there are no garantees. Starting a small business is lways risky, and the chance of sccess is slim. According to the U.S. Smll Business Administration (SBA), roughly 50 prcent of small businesses fail within the frst years.

Following are several reasons for smll business failure:

* Lack of xperience
* Poor planning
* Insufficient capital (money)
* Por location
* Poor inventory management
* Over-investment in fxed assets
* Poor credit arrangements
* Personal use of bsiness funds
* Unexpected growth

On the Upsde

It is true that there are mny reasons not to start your own bsiness. However, for the right person, the dvantages of business ownership far outweigh the rsks.

* You will be your own bss.
* Hard work and long hours drectly benefit you, rather than increasing prfits for someone else.
* Earning and grwth potential are far greater.
* A new vnture is as exciting as it is rsky.
* Running a business provides endless chllenge and opportunities for learning.

What are you thughts? Do you possess the needed sklls, aptitudes, and behaviors to start a bsiness and make it successful?

Do You Have What It tkes to Start Your Own Business?

Larn the characteristics and habits of crative, successful entrepreneurs. Many highly successful ntrepreneurs have similar traits and characteristics. Larn what these are and what you can do to mprove on your own.

What Do Sccessful Entrepreneurs Have in Common?

* Prsistence
* Desire for immediate feedback
* Inquisitiveness
* Strng drive to achieve
* High energy lvel
* Goal-oriented behavior
* Independent
* Demanding
* Self-confident
* Clculated risk taker
* Creative
* Innovative
* Vision
* Cmmitment
* Problem-solving skills
* Tolerance for ambiguity
* Strng integrity
* Highly reliable
* Personal initiative
* Ablity to consolidate resources
* Strong management
* Orgnizational skills
* Competitive
* Change agent
* Tolerance for filure
* Desire to work hard

Many ntrepreneurs also had a role model to nfluence them early on and parents who wre entrepreneurs. Two traits necessary for sccessful entrepreneurs are creativity and innovation.

The article Why Small Businesses Fail was Submitted by David Hale through Articles.GetACoder.com network. Here's the additional information: Dr. Dave Hale is the Funder & CEO of HiPer Solutions, a glbal business coaching and training firm. Dr. Dve is also the author of The Hgh Performance Entrepreneur: 12 Essential Strategies to Spercharge Your Startup Business and Straight Tlk from Corporate America's 10 Most Rquested Speakers & Trainers. He can be cntacted at http://www.HiPerEntrepreneur.com

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