From Entrepreneur.com:

Even with your great idea, thorough research and hours of hard work, one rule still applies: Nothing is certain in home business. No one can unfailingly know if a new product will succeed, how investors will receive a startup idea or whether a company will survive past the one-year mark. So how can you increase your odds of, well, beating the odds?

Whether it is trying to turn a web visitor into a customer, getting a purchase order out of a cold sales call or maintaining a stress-free lifestyle, you’ll face a series of challenges and opportunities to make the leap to success. Every day, companies are started, new products launched, sales made and e-commerce conducted. Clearly, entrepreneurs can overcome the odds. Here’s how to be on the winning side of the entrepreneurial equation.

1. Build to Last
About half of companies don’t survive past four years, according to the SBA Office of Advocacy. That’s much better than the outdated notion that 90 percent of startups fail in the first year. But even if you plan for the long haul, the odds can still be against you.

Fortunately, serious startup entrepreneurs don’t let those kinds of statistics stop them from pursuing their dreams. Take Carol Fitzgerald, who survived pretty bad odds. Her company, The Book Report, was one of 46 internet startups AOL funded a decade ago. Of those 46, just four are still in business, and Fitzgerald’s New York City-based book review website is one of them. Fitzgerald, 50, says she did it with passion and focus. “Start with the employees and making them happy,” she says. “Then it’s about customers and making them happy. Then it’s vendors, and beyond the vendors, it’s the community.”……Full Article Here

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