10 DRAWBACKS TO STARTING A NEW LOCAL BUSINESS


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Someone is already providing the service locally and is doing a better job and has customers which will be hard to lure away,

the good locations for the business are already taken or too expensive to afford,

you can’t get good wholesale prices for the goods you will be selling and will have to charge more,

you will need low skilled workers with a large turnaround and personnel headaches,

you will need skilled workers and few exist locally or you will have to train them yourself and invest much time and money which can evaporate if they leave for a better paying job elsewhere once trained,

you are a neophyte or very new to the business world and aren’t sure what managerial and accounting skills are necessary to do the job right,

you feel that you can run the business by the seat of your pants on a daily basis without the need to plan into the future,

you are not confident that what you are offering is going to be popular with the buying or patronizing public,

you don’t have or don’t know how much money you will need to make the business last for more than a few months or even a few years.

you haven’t researched other similar businesses to see how they made it past the first five years or so working and not making a profit

If you still think you have a great desire and enough knowledge  and money to compete in this cutthroat business world then read my future blog which will be 8 THINGS TO CONSIDER BEFORE OPENING A BUSINESS.

If you liked this evergreen blog read more of them and read one or more evergreen books, especially COMMON SENSE.

Enjoy!!!!!!

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