Forms & Templates
Business Directory
Add A Business

Business Failure Prevention Worksheet

Use this streamlined worksheet to help prevent a business failure and demonstrate the importance of a business plan.

Business Network Members
  1. T&T Professional Lawn Care
  2. Cakes By Doretha
  3. Sacred Tree
  4. Meridian Floor Covering

Business Failure Prevention

Word   PDF  

Business Failure Prevention Worksheet

There are no simple magic solutions that will guarantee a business success. However, the following concepts should help with improving the chances for success and meeting your goals.

#1) The development of a business plan.

#2) A written profile of your businesses target customer.

#3) Compiling accurate financial information about the business in a timely manner.

#4) A written profile of your businesses competition.

#5) Go into business for the right reasons.

#6) Do not borrow family money to start your business.

#7) Network with other business owners that are in the same industry.

#8) Be price competitive, someone will always have a lower price.

#9) Adapt, consumers’ tastes and preferences are constantly evolving.

#10) Always strive to learn about new and better resources that are available.

The majority of business failure causes can be summed up into three categories:

#1) Money- Before you launch your business, have at least three times the amount of time you believe it will take for your business to reach break-even in living expenses saved up.

#2) Management- Never hire friends to be on your management team unless they are well qualified and have management experience that is appropriate to the industry of your business and you feel comfortable openly disagreeing with them.

#3) Marketing- Focus on both the “push” and “pull” aspects to marketing. The consumer pull aspect is the most important. It is your job as a business owner to make potential customers aware of what your product will do for them. Do not rely on your distributors to do this for you.

Proper business planning is critical to your business success as a new business owner. When planning against business failure be honest and objective.

Business Network Members
  1. Silver Cloud Carpet & Tile C
  2. Slackers Inc
  3. Talk, Paper, Scissors
  4. Oranje Chiropractic

Starting A Business

Limited Liability Corporation
LLC Partnership Agreement
Profit Sharing Agreement
LLC Certificate of Formation
LLC Partner Resignation
LLC Member Buyout
LLC Member Withdrawal

Business Operations
Competitive Market Analysis
Break Even Analysis Template
Business Startup Expenses
Responsibilities Of Officers
Business Structure Forms
Business Failure Prevention

Business Agreements
Proposal To Buy A Business
Independent Contractor
Joint Venture Agreement

Business Plan
Planning A Business
Blank Cover Sheet
Strategic Planning
Business Plan Template
Sample Business Plan
Confidentiality Agreement

Business Ideas
Creative Business Ideas

Home - Sign In - Contact - Privacy Policy - Business Assistant - Ask A Question - Business Directory - Marketing Trends - Business Forms - Starting A Business - Business Ideas - Service Contracts - Agreements & Notices - Engagement Letters - Vehicle & Transportation - Attendance & Scheduling - Organize & Communicate - Hiring An Employee - Employee Performance - Training & Coaching - Continuous Improvement - Sales, Bids & Estimates - Payroll & Accounting - Purchasing & Receiving

© Copyright 2017