Tips from TAP – Six tips to start a business

Starting a business requires dedication, hard work and strategic planning to succeed. Studies have concluded that 30% of small businesses don’t survive two years, and only half make it to five years.

Six tips to avoid being a casualty:

  1. Declare how big you want to be in 24 months and use this revenue goal to develop your plan.
  2. Choose who you intend to serve. Where will you generate your revenue?
  3. Determine how you intend to compete by answering the question: “Why should I buy from you and not your competitor?”
  4. Focus on the critical few, not the possible many.
  5. Cut the crap. You can’t afford activities that are not directly related to executing your plan.
  6. Plan, execute, learn, adjust is the planning model that works in a volatile world.

Final word: Focus on the next 24 months; earn the right to stay in business longer.

Download the printable PDF.