The Business Failed, But Did You?

Written by Tim Knox

Q: After years of dreaming about starting my own business, I finally tookrepparttar plunge a little over a year ago. To sayrepparttar 147692 least, my dream quickly became a nightmare. The business didn't do nearly as well as I had hoped. I ran out of money within six months and had to take out a second mortgage on my house just to keep things going. I have now closedrepparttar 147693 business and am left with a pile of bills that will probably put me in personal bankruptcy. I don't mean to take it out on you, but instead of telling people how great having your own business is allrepparttar 147694 time you should also warn them that starting a business is not easy and can be devastating when things go wrong. -- Gene K.

A: Gene, I hope that I have never given anyonerepparttar 147695 impression that having your own business is a walk inrepparttar 147696 park. Torepparttar 147697 contrary, I'm likerepparttar 147698 proverbial Chicken Little when it comes to warning readers ofrepparttar 147699 obstacles and pitfalls that await those consideringrepparttar 147700 entrepreneurial plunge.

To quote myself from a column I wrote earlier this year, "If it was easy, my friend, everybody would do it."

Just to make sure we're in agreement, let me reiteraterepparttar 147701 standard warnings once again. Starting a business is incredibly hard work. It takes long hours and deep pockets. It demands unbridled passion and unquestioned commitment. It requires that you give of yourself until you often feel there is nothing left to give. And sometimes, even after you've done all that you can do and given all that you can give,repparttar 147702 business fails.


Blood, sweat, and tears can only carry you so far inrepparttar 147703 business world. Good intentions and grand ideas won't payrepparttar 147704 office rent. You can not make payroll with Monopoly money.

I certainly don't mean to make light of your situation. In fact, I know exactly how you feel. I failed so miserably my first time in business that I swore I would never think about working for myself again. All I wanted to do was to find a nice, secure 9-to-5 job that provided me with a nice steady paycheck. I yearned forrepparttar 147705 opportunity to grow fat and happy on someone else's payroll for a change.

I never again wanted to have to think about customers or employees or withholding taxes or accounts receivable or anything else even remotely associated with being in business.

I just wanted to crawl in a hole and die because my business had failed, and in my All-American, macho male, "you are what you do" brain that meant that I was a failure, too.

Getting overrepparttar 147706 failure of a business can be extremely difficult, especially if you are one of those entrepreneurs (like I was) who wrongly relatesrepparttar 147707 success or failure of a business torepparttar 147708 success or failure of you as a person.

The best way that I know of to get overrepparttar 147709 failure of a business (andrepparttar 147710 deep feelings of personal failure that go along with it) is to do an autopsy ofrepparttar 147711 business to help find out exactly what went wrong. Only by discovering our weakness can we build on our strengths (Yogi Berra eat your heart out).

Buying a New Telephone System

Written by Andrew Taub

When buying a new telephone system, it's absolutely vital to go with a major name brand. Would you spend $3,000 on a new big screen TV from a company you never heard of? How about $25,000 on a new car from a no name company? Of course you wouldn't and you shouldn't risk your business on a phone system from a brand you've never heard of either and here's why.......


Major brands, like Toshiba and NEC, have rigorous screening processes for dealers. It takes a huge commitment of time and resources to become an authorized dealer, so you know you'll be buying from a reputable company. There are also many dealers in every state. NEC has over 50 dealers serving NJ alone. This assures you competitive pricing, fast service, and a host of options.

No name brands often have protected territories. That means that your dealer might berepparttar only one for 50 or 100 miles. If you have any problems with your dealer you might find your self with a system that can't be serviced or service that is extremely expensive.

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