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Entrepreneurs: Building a company that stands the test of time

Entrepreneurs need to plan - and also realize that things often don't go according to plan.

Those who wish to improve their chances of success could benefit from having a strategy in place to promote survivability and growth. Recent studies indicate that nearly half of all startups begin to struggle within the first four years after formation. So, anticipating that and having a plan for dealing with setbacks can prove imperative.

Business builders who wish to achieve success need to be flexible, as the needs and preferences of the marketplace are constantly subject to change. Although flexibility is essential, it is still advisable to have a plan in place for the future of the company. Prospective business owners will find it helpful to take steps to build a network of possible business associates and clients early on, as this network could play an integral role in the long-term health of the business.

Entrepreneurs who wish to build a brighter future for their companies will find it essential as well to understand the legal aspects of starting and running a business. For guidance on seizing opportunities and avoiding expensive mistakes, an entrepreneur can find it helpful to consult with an experienced business attorney early on. The right attorney can provide a client with advice in covering every aspect of forming a business and subsequently help the business builder in navigating the process and many of the challenges of operating successfully.

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