🚨 Start a Successful Business: Top 5 Reasons Why 70% Of Entrepreneurs Fail
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- Опубликовано: 15 окт 2024
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Disclamer:
The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.
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Spot on Lena thank you.
Thank you Lena 🙂. Excellent video 👍 I thought about opening my own business years ago, but never did.
I was thinking about something that’s needed in my area, that doesn’t exist. Also, I wouldn’t have any local competition for my product. Enjoy your Sunday ! Love all your videos ❤️
Thank you! Have a wonderful Sunday!
👌 thank's
Thanks, Lena. As a retired CPA who worked with a lot of mom and pop small businesses, I have something to add to your discussion. One of the biggest mistakes that small business owners can make is to avoid seeking out advice from qualified professionals such as lawyers or accountants. I've seen lot of situations where the business owner made a terrible decision on their own, and by the time it came to my attention the damage had already been done, with no way to undo it.
Hi Steven! I couldn't agree more with you!
Agree 100% and I’ve been guilty of not seeking second or third opinion, listening to a single source and making some blunders. Thanks.
I agree and disagree . It's the same mom and pop stores which has been successful for decades . Most experts fail to acknowledge that there is something called E- commerce which is decimating mom and pop stores . They apply the same business tactics known to them . But simply cannot compete with e commerce giants . Mr. Steven you mentioned that you are a retired CPA . What advise would you give the mom and pop stores or any small business when it comes to handle the competition from E commerce and recession . .
Lena is it possible for you to share your thoughts on this question please.
Thanks
very useful video! are you able to make a video to show how to find the market to provide advisory services (tax or financial advisory)? I am starting new and would benefit from some tips!
toyota have a low profit margin with a huge customer while ferrari have a huge profit with a small group of customer.. and toyota become the market leader with huge profit from after sales services.. to win the battle we have to understand the war zone, external and internal, plan, action, control, evaluate and repeat..
"A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. If bureaucrat makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you." ~ Ayn Rand
i enjoy just about everything you put out. but could you show us a completed busniess plan. everyone and their mother knows, or can look up 5-10 various things to do/avoid. i have yet to see a completed templant of any kind. i have several busniss ideas in the works but i am not sure how to put a prestable plan together, that would look professionl to a bank or potentail invester. Should i use a spread sheet, word doc, or is it like a 2 week notice; No offical way, but the point/s must be clear? Also subed to tax channel. Super looking forward to thoes as I am trying to become an EA agent specializing in capital gains ( I trade ForEx, crypto and dabble in stocks)
Hi Lena
I have all the 5 points you pointed covered . But yet I am seeing very very poor results off late . I live in a country which has a very small economy topped up with very poor economic policies in the country which is effecting my business adversely . How in your opinion one can overcome poor economic policies of the government and still have their business functional. ? I am not talking about success. Just to break even . Under poor economic policies or recession like conditions .
Thanks
Thanks Lena I left the system years ago I don't earn enough for them to tax. But I was in business for many years my business involed using my hands arty restoration but it helped rease a family and keep us alive for over 50 yrs don't get me wrong I worked my ass off as a tradesman for the biggest part of that my two both of whom worked fot me at some stage in their working lives they reconed I was they ever worked for one just soled his business and retired at fify but he was bored and to work again for himself all three of our childern have done well for themself mand never have a job outside the home for 27 yrs but she still contributed to the business by doing the books and running the house hold.so family partnerships do work sometimes by the way I enjoy listening because I think you talk a lot of sence a rare thing these days. So thank you my Friend 🌹☘️💚☘️💚☘️
Lena, If a person is very serious and focused on their investments, can such a person create a business entity and put their investments in the business entity? (Ie if you take your investments very seriously and desire to make a career of managing them, can they be placed in a true legal business entity which exists for completely for that reason?