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Learning From Bankruptcy: Two Key Insights For Business

YoungUpstarts

Most people think that going bankrupt is the worst possible thing that can happen to a business… and that’s nearly true. In reality, though, the worst thing is to go into bankruptcy and not learn anything from the experience. This is exactly what happened to RadioShack, one of the most famous bankruptcy cases in recent years.

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Why The ‘Fail Fast’ Mantra Needs to Fail

Both Sides of the Table

Because I have met so many young entrepreneurs who tell me, “we don’t need business plans anymore, there a waste! We’re going to put our product out there and fail fast!&# [note: business plan to me does not equal long Microsoft Word document. How do I know this?

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Ouch! If I had only learned this before losing millions!

Berkonomics

Those of us who lived through those times will recall the nationwide advertising campaign the suddenly carpeted the newspapers and televisions: The first digital cell phones were released to the market, smaller, cheaper and priced with roaming plans that made it no premium cost to carry these digital phones to cities far from home.

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7 Tips to Help You Better Protect Your Business

Women Entrepreneurs Can

If you skimp on insurance and a client is really unhappy with you, to the point you get sued, then you are going to be facing bankruptcy. But because every business is different – what works for one might not work for another, so always seek professional recommendations. Which is not a bad position to be in.

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The Basics of Small Business Loans [WEBINAR]

Up and Running

Then on the planned side, I know many of you work with Palo Alto and BPlans on new business plans, obviously a startup. For a new business, you’re going through that process, you’re planning and you want to get funding to get your business started. They help businesses with their business plans.

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Boy! If I had only learned this before spending a million!

Berkonomics

That year, some of you will recall, the first digital cell phones were released to the market, smaller, cheaper and priced with roaming plans that made it no premium cost to carry these digital phones to cities far from home. Soon the company was drifting toward bankruptcy as the leases for the systems expired, one by one.

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What I learned from losing a million…Market knowledge comes FIRST.

Berkonomics

That year, some of you will recall, the first digital cell phones were released to the market, smaller, cheaper and priced with roaming plans that made it no premium cost to carry these digital phones to cities far from home. For most brilliant new ideas and business plans, the competition is merely to do nothing.