Typically when you start a new business, you have no idea what you are getting into or the curves along the way. Being in this position today and having survived 20 years, I feel this list will help any new business start-up.

1. The manager is incompetent

Most small businesses fail because the owner does not have the knowledge to run a business properly.

Solution: Go to a business class before you open your doors.

2. Finances are not in place

Solution: Write a business plan or get an accountant to assist you. Cash is king and without proper funding even the best idea will fail.

Read more