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by John Krech
Since the U.S. Small Business Administration is working to stimulate the creation of new small businesses by increasing the percentage of the gaurantee to 90% and to reducing the fees, it is a good time to reevaluate the high failure rate of small businesses. According to SCORE, , using data from the SBA:
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Before you utter these famous last words, find out what you can do now to save your business from an early demise.
When I go on vacation, I take a lot of books with me. I try to make sure that none of them have anything to do with business, but sometimes business lessons come from the strangest places. One of my vacation reads this year was "Famous Last Words" by Jonathan Green. This sometimes funny, frequently poignant compilation of deathbed quotations offers a glimpse at the characters of famous people as revealed by their final words. My favorite (as a business columnist, anyway) comes from showman P.T. Barnum, whose last words reportedly were "How were the receipts today at Madison Square Garden?"
Whatever words you may utter if your business collapses (most probably unprintable in this column), the failure can often be traced back to some "famous last words" you once said, if only to yourself. Here are some painful examples:
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