Is Your New Business in Trouble?

Warning signs to watch out for
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People starting a business tend to focus on the bright side of things, a quality that helps when things are looking bad. Just don't forget to keep your eyes peeled for these signs of a doomed business:

  • No business plan
  • No board of advisors
  • Insufficient capital
  • No exit strategy
  • Nothing backing up the hype
  • Personality conflict
  • All offense, no defense (such as establishing a limited liability entity, obtaining adequate business insurance and forming contracts to protect yourself in customer, supplier and vendor relationships)

Excerpted from Entrepreneur magazine, August 2001

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