Entrepreneurs who lack the right tools struggle to find success. Photo: Flickr/L. Marie
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Entrepreneurs are known for working hard and dreaming big.
Too many, though, focus solely on delivering their product or service while ignoring basic, nuts-and-bolts aspects of managing their firms. Their tunnel vision places their businesses at risk of liability, financial mismanagement, and incurring high fees.
To determine which components are necessary for a business to thrive, I’ve drawn from the experience of the scores of entrepreneurs with whom the Intersect Fund has been lucky enough to work.
Here are the five prerequisites of business success: