Learning From Failure

The best way to protect yourself against business failure is by going back to the basics.

You need a good business plan, a solid marketing plan, anexperienced management team and adequate capitalization. Even withall those factors in place, however, there are inevitably surprisesand errors along the way. The key is learning from those errors asyou go along so that small failures don't balloon into bigones.

Excerpted from Start Your Own Business: The Only Start-Up GuideYou'll Ever Need

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