Small business open and close every day. What is the difference between success and failure? Here are seven tips to prevent a business breakdown, according to an Entrepreneur report.
• Understand your competition.
• Know your product down to the last detail.
• Never undervalue communication with your employees and customers.
• Always take care of your employees.
• Continually seek ways to improve.
• Do not exceed your budget.
• Take success one step at a time and avoid becoming greedy.