New startups fail for many reasons but more often than not, the most common causes for failure are totally avoidable. In this article I am going to give you in depth knowledge of mistakes to avoid and areas to focus upon to help your company succeed.
Firstly a quick note on my own qualifications for providing such advice. I launched my first company at the age of 21, with a very small 20K GBP overdraft. This was a design, manufacturing and distribution company within the electronics sector. It was a hugely challenging and successful business which grew at its peek to have an annual turnover of 2 million GPB and directly employed more than 30 people, with many many others employed indirectly. In 1998 at 28 and after 7 years of extremely hard work and while still at the top of my sector I decided a change (and rest) was in order and transitioned slowly to the online arena. I have since learned nearly every aspect of the online architecture from building linux servers to programming multiple languages and experimenting with many online business models. I now work freelance for private clients while at the same time running a host of successful enterprises.
The importance of finding the right partners
Internet businesses are unlike any other business in history. Now we have open access to a network of potential partners anywhere in the world who are relatively easy to communicate with and locate. Many look for the lowest costs for obvious reasons though the reality is that more often than not 'cheap' services rarely result in satisfaction but instead frustration and failure. It is imperative to find partners who can help you achieve your goals and paying for quality is well worth it if the end product is satisfaction. (more...)

