To succeed requires far more than just desire. Lack of experience . Join a business in your dream industry to gain practical experience. Study this industry and attend trade shows to spot future trends in products and customer needs. Poor financial management .
Most entrepreneurs fail to treat their capital as an important and necessary asset.
It is the grease that lubricates the gears that run your business. You'll either run out of cash before turning the corner, or you'll start to succeed while lacking the capital to meet growth pressures. Either way, the end result is the same. When your customers pay you at a slower rate than you pay your suppliers, you'll always be in financial trouble. Most entrepreneurs create overly optimistic sales projections.