When it comes to running a small business, there’s no easy day to day task that can be completed to ensure it’s a success. With more and more competition out there in various industries, it’s making it even harder for small businesses to make a name for themselves. It’s not all to do with the competition, though, and sometimes it’s the small business owners who lack the experience and knowledge to take their business forward. Here are a few of the personal reasons why you could fail your small business.

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The world is yours for the taking. That is why everyone should at least consider starting their own business. It’s the best conclusion to a lifetime in one industry. You know what makes a company successful and what makes it unsuccessful already. The only thing you have left to learn is how to build a company from the ground up. To help you succeed on your own, follow this simple guide:

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You might have read countless inspirational tales about entrepreneurs who defied the odds and went from nobody to the owner of a towering global corporation but these stories often don’t help. Reading the advice that you should “follow your dreams” and “keep working hard” doesn’t really do a lot to help you with the technical aspects of building your own business and achieving the same level of success.

Perhaps part of the reason as to why you can’t find definitive answers online is that there’s no definitive mathematical formula to creating a profitable business given that the economy and the consumer are always changing. Still, that doesn’t mean there isn’t some rough form of science when it comes starting a business on the right track. There are certainly smart business practices and not-so-smart business practices. Here’s a rough sort of rulebook to get you on your feet and underway with creating your own empire. Let’s turn that innovative entrepreneurial idea into a grounded reality.

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The startup business world can seem like a young person’s game, but the truth is that the 55-64 age group boasts more entrepreneurs in America than any other age group. In fact, according to the Kauffman Foundation, in 2015 26% of new entrepreneurs were 55-64. In 1997, only 15% of entrepreneurs fell in that age range.

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The number of entrepreneurs in the United States is rising. A statement from the Global Entrepreneurship Monitor reports that there are now nearly 30 million people in the U.S. who own their own business with the intent of making it their full-time career. If you have thought about becoming an entrepreneur but you are not sure where to begin or are concerned about the financial risk, you should know that careful planning is a vital element in the formula for success. Fortunately, there are steps you can follow that may be elemental in helping you build a healthy entrepreneurial business.

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It’s sad, but not everyone is cut out to be an entrepreneur. Going out and taking risks that might not pay off isn’t for everyone, but for those of us who are cut out for it, the life of an entrepreneur, where you get to be creative, have more freedom and make your own money on your own terms, can be fantastic.

If you’re thinking of starting a business, but you don’t know whether it’ll work out for you, check out these tell-tale signs that you were made to be an entrepreneur. Here they are:

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