Insufficient or incorrect qualification
After all, nearly half of all start-ups fail within a relatively short time at that point. There are some rules that must be followed when taking certain actions (such as the master’s examination in a particular craft or existence of the of health certificates for working with food). Previous experience or qualifications must therefore with the selection (or development) of a business idea to play a major role . For example, it does not make sense to opt for the opening of a one-man translation agencies when not have the necessary language skills, has the contracts to the full satisfaction of the client handle. Even with the decision for a particular franchise system should therefore better of his professional experience and his talents are guided by the idea as „something completely new things“.
This point is closely related to the above-mentioned lack of information but with the fact that „in the heat of the moment“ often overlooked important things. Typical here is the statement: „I thought I had seen …“ This situation can one carefully elaborated business plan to create. With its help, you can understand the strengths and weaknesses of your concept. Then consider what measures you will take to start and run. The risk that something important is forgotten it takes in from felt. Since a detailed business plan is both a prerequisite for successful negotiations with banks and resources for gathering information, it should be central to the planning of any business start-up (whether as a franchisee or independent entrepreneurs).
The backing and support within the family should be discussed at every start-up plans in advance. As head of a newly formed company you are, especially in the early stages, must work much more than in an employment relationship. This will be, but also your family to be clear. A good sophisticated time management, discussed with all family members in advance can help. If you are „working“ well planned, it should be possible still be able to spend enough time with your loved ones at home.