The very first thing that should not be considered is to venture beyond the scope of a great idea without the right tools. According to Small Business Administration statistics, over 90% of small businesses fail due to a lack of planning.
How many times have you heard or seen people paying attention over a weekend and writing an excellent business plan that started Monday morning looking for money or investors? Impatience is the second thing that requires management. So often, “I’m tired of working for someone else” is the requirement for people to start a business. This mindset will almost guarantee failure because this business approach involves looking back to get out of a bad situation.