National Enfusiasm Week 2013

By Dr Harveen Chugh

The phrase ‘cut your losses’ is commonly used in everyday conversation, but how easy is this in business practice?

Entrepreneurs commonly state that starting up a business is more time consuming than the average full-time job of 36-40 hours a week. So how much time should you be prepared to invest in starting up a business and what will you be spending that time on?

A number of things may start to occupy your time – writing a business plan, developing the product, making contacts, or trying to sell the product, to name just a few. It is not surprising therefore, that entrepreneurs often refer to their business venture as their ‘baby’ and hope that it will be a big success. But what if things don’t quite go to plan?

Difficulties or challenges can occur along the way – product failure, lack of funds, difficulties in…

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