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Welcome! How is your business? Do you plan on starting a business in the near future? Statistics show that nine out of ten new businesses WILL fail. I don't say that to discourage you, but to encourage you as an entrepreneur to do your research to prevent failure. Being successful requires some forethought and some homework. Join me now for today's conversation—and avoid these common mistakes!

Five Mistakes Entrepreneurs Should Avoid When Starting Up Their Business:

1. Confusing your product or service with your business

• Have a revenue stream beyond a one-time purchase

1. Not knowing your numbers

• Know your monthly income and expenses

1. Failing to get expert advice

• Many startups think they can't afford expert help

1. Not realizing the emotional toll of entrepreneurship

• Get proper rest and nutrition, and make time for friends and family

1. Expanding too soon

• You must have the proper foundation in order to grow