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Starting a business is a big challenge. In fact, most businesses will fail during the first two years. Entrepreneurs need to be prepared for a marathon, not a sprint, to make it. They’ll need to overcome several obstacles to make it. These include everything from overcoming personal mindset issues, to timing the market correctly. By looking at entrepreneurs and businesses who thrive, it’s easy to see which behaviors can lead to long-term success.

Everyone has heard that it’s important to have good credit. Your credit score helps people evaluate how risky it is to do business with you. The most common reason someone will check your credit is to make a lending decision. But other people and institutions check credit, too. Utility providers, landlords, potential employers, and even cell phone companies check consumers’ credit histories.

Running a business is a challenge. It can be difficult to know when to expand, offer new services, or make other changes. One great way to determine the best step to take is by conducting market research. This can benefit your business at any stage. It’s recommended when starting a business. It’s also a great way to ensure that your existing business is still maximizing its potential.

There are many different theories about what makes a strong leader. Some people believe leadership is all about vision. Others point out that it’s important for leaders to be able to understand those around them, and particularly to spot talent effectively.

Small businesses are a huge economic engine for the US. As of 2021, there were over 32 million small businesses in the US. They employ about 47% of the labor force in the private sector. But today, small businesses are facing big problems when it comes to sourcing materials. Surveys by government organizations and anecdotes all point to the fact that supply chain woes have been a huge hurdle for small businesses over the past year.

Financial scams are becoming a problem everywhere. Fraudsters target people from all walks of life, in search of information and money.

It takes an ambitious person to start a small business. Not everyone has the vision and drive to be their own boss. But sometimes, it can be tough for someone who started a business to take it to the next level. When a company takes off and truly prospers, it’s usually because the founder has developed and followed a plan to scale. There’s long been a stereotype that entrepreneurs don’t make good executives when it comes to guiding a company long-term. But by being intentional and understanding where many entrepreneurs make mistakes, it’s possible to scale up successfully.

Since the start of the pandemic in 2020, small businesses have been weathering many challenges. These changed with time. Reduced foot traffic, government-mandated closures, inflation, and supply chain problems are just a few examples. Some large businesses benefited from their economies of scale and specialized staff. Entrepreneurs, often making big decisions with little assistance, have been under increased pressure.

Inflation has been in the news for months. In fact, from November 2020 to November 2021, inflation increased at the highest rate since the early 1980s. But most of that conversation is around how inflation is affecting individual consumers. Small business owners are feeling the pinch, too. There are, however, steps that entrepreneurs can take to minimize the effects of inflation on their companies.

The Four Agreements is a book written by don Miguel Ruiz in 1997. Not only is it a guide for personal freedom but also a journey towards business success. To operate efficiently, both leaders and employees need to work closely together towards better communication. We tend to run our businesses with purpose and intent; however, there are other considerations.