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But when you're starting your own business Paul Stastny Jersey Youth , there's no guaranteethat your "mousetrap" is going to survive, especially in today'sfast-paced business world.

Nearly half of all small businesses fail within the first twoyears of operation. The number one reason for business failureis inadequate planning. The second reason isunder-capitalization.

So before you mortgage your house, or go into debt financing yourbusiness Cody Eakin Jersey Youth , you need to know if your business is going to do morethan survive -- you want to know if it's good enough to thrive! Here are three things successful businesses that have stayed inbusiness for five years or longer have in common:

1. The idea. A successful business start-up always starts withan idea. Something that makes your business stand out from allthe rest. So how do you know if you've got a good idea?

You've probably got a good idea if you can answer yes to any ofthe following questions: Does your idea provide the solution to asignificant problem for your target market? Does it satisfy aneed or want? Does it create an opportunity?

The most successful businesses either fix problems (either realor perceived), or they increase your customer's pleasure. Theycreate a repeat need for a product or service among the targetmarket.

2. The market. Your chances of survival are better if you cananswer the following questions with a yes: Is there already amarket for your product or service? (It's much easier to fill aneed than trying to create an entirely new market.) Can yourtarget market afford to buy your products or services? (If theycan't afford it, it doesn't matter how great it is Reilly Smith Jersey Youth , you won'tsell any!) Will your target market perceive your product orservice as valuable? (If they want it, but don't think it's worthwhat you're selling it for, you won't make any sales.)

3. Your ability. Do you have the people Deryk Engelland Jersey Youth , the resources and theknowledge to be able to consistently provide your products orservices to your target market? Can you maintain a competitiveadvantage? Do you have enough manpower? Can you purchase thesupplies and materials you need over the long run?

Your first step always is to create a solid business plan. Yourbusiness plan is more than an essay on "Why I deserve to getfunding for my idea" however. Don't spend all the time creatinga business plan and then toss it in the bottom drawer of yourdesk. Your business plan should be a living, breathing roadmapthat helps you make sure you're on course . Wholesale Jerseys Cheap Adidas NHL Hats Cheap Soccer Shirts Free Shipping Cheap NHL Shirts Free Shipping Cheap NBA Hoodies Free Shipping Cheap MLB Hats Free Shipping Wholesale Hoodies Wholesale Hoodies Wholesale NFL Jerseys Wholesale NBA Hats