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10 tips: Avoiding the startup graveyard

September 20, 2006 /

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Building your own business is a big gamble. Here are steps on how to play without losing your shirt.

Starting a business from scratch is the ultimate gamble, so before you throw in all of your chips, take some advice from a former airline executive who built a small business out of helping others build theirs.

Some 464,000 people on average start new businesses each month, according to the Kauffman Index of Entrepreneurial Activity.

But according to the Small Business Administration, only two-thirds of new businesses last at least two years, and 44 percent survive for at least four years.

So for those who have already gone down the entrepreneurial road or are just thinking about it, Neil Anderson, president of The Courage Group, a services firm for entrepreneurs, offers these tips for avoiding the startup graveyard.

By Jessica Seid, CNNMoney.com staff writer

Full Story: http://money.cnn.com/2006/09/20/smbusiness/startup_graveyard/index.htm?postversion=2006092010

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