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BUSINESS
ADVICE |
Wisdom is knowing what to do next, skill is knowing how to do it, and virtue is doing it.
-David Starr Jordan
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The Importance of Planning posted by Peter J. Patsula | Not that long ago, anyone interested in starting a small business could obtain FREE information from either the American or Canadian government, both of which use to provide 10 to 30 page booklets free of charge on various subjects ranging from bookkeeping to marketing. However, today these booklets range in price from $2 to $5. In fact, if you wanted the U.S. Small Business Administration's complete set of 42 booklets (for a total of about 900 pages), you could easily spend over $100.
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ACCORDING to Dun & Bradstreet's "Business Failure Record" (1991 - 1993), more than 70% of all business failures can be attributed to the following three factors: (1) insufficient profits, (2) heavy operating expenses, and (3) industry weakness.
Within limits, each of these reasons for failure can be traced back to inadequate or improper planning - meaning that potentially each is preventable - and it makes you wonder...
Don't entrepreneurs plan?
And for that matter, can't they find good material to meet their planning needs? There must be thousands of publications out there to inform as well as motivate them?
Or, is there.
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