Management
There was a time when starting a business Management required foresight, a business plan and some capital. Today, an entrepreneur can sketch an idea on the back of a napkin in the morning and have the business up and running by the afternoon. However, the ability to quickly seize upon new market opportunities can be a double-edged sword, as more than 80 percent of all new business ventures fail.
While the statistics may seem grim, there are strategies savvy entrepreneurs can use to stop a business from going under. Startup veterans say that when there's trouble on the horizon, entrepreneurs should consider making changes in product direction, cash burn rate, business model, potential new markets and the management team.
