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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