Since the majority of startup small businesses fail, how can you succeed?
It is important to know what, when, why, where and how you are going to start your business. Unless you have clear focus, don't even try, it will just be a waste of your time and energy.
In addition, you will want to do whatever courses are available that might help you achieve your goals.
What I mean by practice is not to just dive straight in and learn on the job, no, what will really help you is to observe how SUCCESSFUL people have started the same kind of business that you are attempting to start.
There is a reason why 4 out of 5 small business start ups fail, the rewards are hard to achieve and take inordinate amounts of time to achieve. How can you get over this obstacle?
The key is to Pursue. You need to be focused on your goal, and, never to look away or be distracted from this purpose. How long can you focus on your goal? Only you can answer that! However, realistically, it will take you some years to truly progress in your endeavor. If you are someone who gives up easily, you should really not try to start a business. Instead, look for a well paying job.
If it is all such hard work, why bother? The rewards can be huge. Consider just a few:
Time - Have a flexible schedule, spend more time with your family or other priorities.
Passive Income - Depending on the type of business you intend to start, it may keep paying you even when you are not working.
Capital Gains- You have the possibility of achieving significant R.O.I on the outlay involved in starting your business.
Want to start a business? Go for it! But, remember to Plan, Practice and Pursue!