Why Bad Things Happen to Good Businesses

Despite having a great idea implemented by someone who is completely dedicated to its success, they fail. After six months, someone who couldn't care less (but enjoys making money) steps up and makes it work. What is the reason for this? The age-old conundrum. Why don't good ideas always work out?

Many people are unaware that there are ideas that are universal in their search for success for small business owners.

Even Einstein will be perplexed

When it comes to business success, no one person has all of the answers. There are many ways to excel, but there are even more ways to fail. So, if you have your idea, the first thing you need is access to people who have been there before.

People who will answer your questions and assist you without asking for 51 percent of your business!

The Golden Rule of Business is to test, test, and test some more!

Every year, millions of dollars are lost in the small business world (usually a few hundred dollars at a time) because the person's idea was not checked. Even the most brilliant idea you've ever heard needs some polishing before it can be introduced to the rest of the world. Where do you go to test, though? You'll need a community of people who will put your idea to the test and give you truthful feedback based on their real-life experience.

If I had the money, I would.

Have you ever gone to a bank with a small business idea? Thousands of business owners would inform you that the majority of banks do not want or need your services. Where do you go if venture capital is normally reserved for the big boys? You'll need a network of people who can assist you.

In more ways than one, business owners have felt the pinch of the recession. First, revenues fell as a result of customers spending less money due to unemployment and declining household incomes. Second, banks tightened their lending policies, limiting the number of loans and lines of credit available to small businesses. Since banking policy changes are so common, they can have a structural impact on the economy. Since cash is in such high demand during a crisis, the banking impact on business can be amplified.

Simply toss a coin.

One of the most difficult aspects of running your own company is making decisions. What should I charge for this? Is it acceptable for me to give a discount? If so, how much would it cost? All is on your back all of the time. Your family and friends will all say the same thing: "That sounds fantastic to me." It's not their mortgage payment on the line, after all. To draw from, you'll need a Pool of Wisdom.

Accounting, taxation, and paperwork

That's right, you're no longer in Kansas. Hiring all of the experts you'll need will be prohibitively expensive... money you don't have. What you need is a group of experts that will not deplete your resources.

Many people have become increasingly interested in and concerned about the effect of the federal tax system on small businesses in recent years. When heavy spending during World War 11 forced Congress to raise federal taxes on both individual and corporate income dramatically, it was widely assumed that once hostilities ended, the high wartime rates would be reduced to more acceptable levels. Unfortunately, only a small portion of these standards have been met.

The bottom line is this: Businesspeople need a bridge to connect where they are now to where they want to go. People need access to knowledgeable people who can respond to their questions. The desire to experiment with new ideas without having to invest a lot. They often need assistance with the specifics. We all have these needs, but only a few are willing to put in the effort to create and improve such a resource. The path ahead could be very slick without such a resource.