10 Step Venture eMentoring Program

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10 Step Venture eMentoring Program™

Session 1: Self-Assessment

1a. Reasons To Start 1b. Reasons Not To Start 1c. Common Traits 1d. Common Mistakes
1e. Aptitude Quiz Summary

Module 1d: Common Mistakes Leading to Business Failure

It may be surprising to learn that businesses in totally different industries, of totally different sizes, and with totally different resource capacities fail for some of the same reasons. Below is a list of some of the more common pitfalls. Review this list and talk it over with someone else. Using this as a basis for discussion can often uncover other issues affecting the business development process. Read this list carefully, complete the form, and be as honest with yourself as possible when checking off which level of response you can best identify with. After responding to each of the points introduced below, submit the form to receive a copy via the email address(es) specified.

Instructions: Select an option for each question, and submit the form to receive your score

Common Mistakes Leading to Business Failure
1. Failure to develop a sound business plan Can Avoid Concerned About Don’t Understand (Need to Research Subject)
2. Failure to attract and retain customers Can Avoid Concerned About Don’t Understand (Need to Research Subject)
3. Failure to develop marketing niches Can Avoid Concerned About Don’t Understand (Need to Research Subject)
4. Failure to maintain self-sufficient cash flow Can Avoid Concerned About Don’t Understand (Need to Research Subject)
5. Failure to control costs Can Avoid Concerned About Don’t Understand (Need to Research Subject)
6. Failure to identify problems early-on Can Avoid Concerned About Don’t Understand (Need to Research Subject)
7. Failure to select appropriate resource people and staff Can Avoid Concerned About Don’t Understand (Need to Research Subject)
8. Failure to forecast growth cycle of new products/services Can Avoid Concerned About Don’t Understand (Need to Research Subject)
9. Failure to innovate Can Avoid Concerned About Don’t Understand (Need to Research Subject)
10. Failure to monitor and respond to trends Can Avoid Concerned About Don’t Understand (Need to Research Subject)
11. Failure to use technology Can Avoid Concerned About Don’t Understand (Need to Research Subject)
12. Failure to adjust to changing markets and competition Can Avoid Concerned About Don’t Understand (Need to Research Subject)
13. Failure to use the Internet Can Avoid Concerned About Don’t Understand (Need to Research Subject)
14. Failure to maintain control Can Avoid Concerned About Don’t Understand (Need to Research Subject)
15. Failure to work-through family problems Can Avoid Concerned About Don’t Understand (Need to Research Subject)
16. Failure to manage inventory Can Avoid Concerned About Don’t Understand (Need to Research Subject)
17. Failure to generate new and retain existing customers Can Avoid Concerned About Don’t Understand (Need to Research Subject)
18. Failure to deal with impending litigation Can Avoid Concerned About Don’t Understand (Need to Research Subject)
19. Failure to obtain needed financial resources Can Avoid Concerned About Don’t Understand (Need to Research Subject)
20. Failure to file IRS documents Can Avoid Concerned About Don’t Understand (Need to Research Subject)
21. Failure to keep good records Can Avoid Concerned About Don’t Understand (Need to Research Subject)
22. Failure to communicate internally Can Avoid Concerned About Don’t Understand (Need to Research Subject)

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Click the Submit button above to calculate your score.

Interpreting Your Score

Scores are based on the following values:
3 = Can Avoid, 2 = Concerned About, 1 = Don’t Understand (Need to Research Subject)

Now – on to 1e: Entrepreneurial Aptitude Quiz

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