3 pitfalls that could sink your business

01/3/2012 | Wall Street Journal, The

It may be tempting for small-business owners to hire friends or family members, but doing so can hurt your business and personal relationships, cautions Susan Wilson Solovic. "Typically, your family and friends don't have the skills, experience or dedication you need to really grow your business," she writes. Also, examine market conditions before launching a new venture, and make sure your customers pay you on time, she adds.

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