At one time or another, virtually everyone thinks about starting a handmade business. The allure of being your own boss can be strong especially if you’re doing what you love, but it’s important to remember that launching a new business is risky: According to a recent SBA report, about 50% of all small businesses will fail within just five years.
Managing a handmade business can be a minefield, especially when the pull of entrepreneurship clouds your decision-making – and when you go it alone with no business experience.
But if you do decide to start your own business, it’s a great idea to learn from other’s mistakes and set yourself up for success.
So how can you increase your chances of being among the 50 percent of businesses that make it for at least five years?
Here’s another video interview of Starla Moore by my friend Renae Christine, discussing about the mistakes that make you fail:
So what’s your favourite take away from this video? Please let us know in the comment box below.