The real reason so many small businesses fail

By Alexandra Tselios

It is a risk, it is competitive and it is exhausting, but armed with solid knowledge, vision and calculated awareness, it’s a brilliant climate to launch a small business.

Starting your own business can be an exciting, scary but rewarding process, but a fantastic idea without the right strategies or underprepared data can leave a potential business owner with broken dreams and a large amount of debt.

This allows you to be fully aware of the potential of the business to expand, while acknowledging the small steps and achievements required to get there.

Yet now more than ever, we are seeing a focus on start-ups in Australia, with funding from investors, incubators and even banks backing small business ideas.

Part of successfully running a small business requires maintaining the balance of big vision while working on incremental milestones.

Too often small business owners are so emotionally tied to their original concept that they ignore what the customers or market are saying.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Alexandra Tselios is the co-founder and publisher of The Big Smoke, Australia’s newest opinion site and a business start-up consultant.

Read more here: Business Spectator


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