Life is a Gamble. So is Business

Life is a gamble of Win and Lose. How's that you ask? Well you live (Win) or you die (Lose). You ate something good for lunch (Win) or you ate crap for lunch (Die). Et Cetera.

Well, business too is a sort of gamble. You can either succeed spectacularly (Win) or fail miserably (Lose). The thing is, nobody can predict whether a business can fail or succeed. However, there are some things that a person can do to increase the chances of succeeding (or prolong the inevitable heh heh).

Things to do to increase chance of success:
1) Research
Before starting a business, you need to do your SWOT analysis. You also need to know what you are selling, and actually sell what you intend to sell. That means you know what your market is, and what your market wants.

2) Prepare Team
When you start a business, never ever start it alone. You will not have the manpower to do anything on time. However if you start your business with a lot of people, things will get messy and ugly very, very fast. So pick a small group, something like 3-5 for a start up business.

3) Monitor Execution/Communication
Communication is key to success. If your team does not communicate well, you know the rest. Making sure that the team does communicate is important and must be done early.

There are more things that a person can do to ensure their business will succeed. It is not limited to what I have just presented. Indeed, different people will have different ideas of what is important to their business.