Getting a new business off the ground can be tricky, especially for newcomers and for others who are not newcomers it can be a downright disaster. The majority of small businesses collapse in the first few years of operation and sadly, it is caused from mistakes that could have been easily avoided. So, if you have plans to launch a new business, then there are some common pitfalls that may drag you down.

It is one thing to chase success and it is quite another to chase the trappings of material wealth. Just because you can upgrade your car and afford that designer suit does not mean that you are successful. You cannot buy your way to happiness – and trying to do so will only leave you feeling empty. This is also a quick way to get yourself in debt, and this can impact your business in the long run.

Before you launch your venture, write down what success truly means to you and bear that in mind as you aim for it.

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