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How to Lose Business

You’re always hearing what you should do to start a new business successfully, but there’s a lot out there that you can do to kill your business once you’re up and running. In an interview on CNBC, Steve Strauss, the small business columnist from USA Today, provided his lists of “do’s” to run your business right into the ground, and some suggestions for building it well…if that’s something you’re in to.
KILL YOUR BUSINESS BY: Contracting your business instead of expanding it. Go ahead and panic.
BUILD YOUR BUSINESS BY: Think about expanding when times get tough. Be brave.
KILL YOUR BUSINESS BY: Selling, not buying.
BUILD YOUR BUSINESS BY: Being brave and making smart investment decisions. It’s the successful business owner who buys when everyone else is selling.
KILL YOUR BUSINESS BY: Burying your head in the sand and avoiding employees, business contacts, etc.
BUILD YOUR BUSINESS BY: Continuing to do things you’ve always done, regardless of the market.
KILL YOUR BUSINESS BY: Cutting back too much in the wrong places, like marketing and advertising.
BUILD YOUR BUSINESS BY: Cutting costs in some places, but don’t take away resources from the areas that will continue to drive customers to you.
KILL YOUR BUSINESS BY: Not dreaming anymore.
BUILD YOUR BUSINESS BY: Continuing to pursue your dreams!

Posted: 4/10/08