Upsize Minnesota: 10 Mistakes Owners Commonly Make, and How to Avoid Them
Do you know that The Small Business Administration estimates that half of all new businesses fail within the first five years after their creation, and only about one third survive 10 years or more?
In his latest Upsize Magazine article, FMJ shareholder Pat Shriver helps new business owners avoid these scary statistics by outlining 10 common mistakes.
“#1 Failure to organize a business entity. Far too frequently, entrepreneurs wait to form a business entity. The reasons vary, but include expense, unfamiliarity with the process, or the feeling that only “big” businesses need to incorporate or organize an LLC. The truth is that the main purpose of forming an entity in which to conduct your business is to separate your business liabilities from your personal assets — protection which owners need right from the start.”
Read about the other nine mistakes here.