Business Ideas - How to Create an Maintain a Business or Business Idea

Let's face it - business ideas and opportunities are a dime-a-dozen.
There are many would be entrepreneurs with the next big "THING" only to end up disillusioned and bitter because they didn't plan.
It isn't because success is impossible - far from it. The issue is rather the combination of traits that sets the pathway to success rather than failure and believe me - failure is very easy.
Just look around, statistics indicate that new businesses are likely to fail within their first year - due in part to the pressures and other internal and external influences. As the years proceed - the risk of failure is still high but it tapers down - it is never altogether eliminated.

For businesses or business ideas to thrive they need to understand certain dynamics.
But to at least stand a chance to compete - here are some of the considerations that you need to put in place and to watch out for.

1. GET A BUSINESS IDEA or IDEAS as the case may be(this is the classic "which comes first problem" - the chicken or the egg)
2. GET A BUSINESS PLAN TO COVER AS MUCH SCOPE ON THE BUSINESS IDEA(s) as possible - do this in tandem with point number three (3) below.
3. DO YOUR RESEARCH CONTINIOUSLY- in my estimation it is better to have a good grasp of the dynamics of demand and supply or to be able to anticipate the general direction or trend of the market at any given time. This often calls for one being a gambler of sorts but only based on GOOD INFORMATION.
4. BUILD A GOOD TEAM with diverse skills and inherently complimentary abilities to make up for each other's short comings.
5. DESIGN YOUR BUSINESS FOR MULTIPLE INCOME STREAMS FROM THE GET GO -don't wait to rewrite your map - it often gives the business a sense of direction for the short, mid and long term.
6. ESTABLISH THE CASH FLOW - nothing keeps businesses afloat like money - keep expenses down and income up - that is the surest way to stay solvent.
7. CONSULT SUCCESSFUL AS WELL AS UNSUCCESSFUL BUSINESSES - learn from both good and bad decisions as the yard stick to gaining experience but nothing can replace good old fashioned mistakes (just make sure the mistakes are not too expensive or frequent)
8. EXPAND ACCORDINGLY - don't start spreading thin too early or too soon.
9. INNOVATE FREQUENTLY - Be as nimble as APPLE inc - don't follow standards too frequently; create them.
10. Patent processes - find and service needs of clients, customers or business where ever you can find such needs - that is the only way.