Former Secretary of State Colin Powell once said, “There are no secrets to success. It is the result of preparation, hard work and learning from failure.”
His thoughts were recently echoed by Manuel Martinez, president and CEO of the Los Angeles-based Success Training Institute, who said, “preparation, preparation, preparation” are the three keys to a successful business launch, during a recent segment of Money Talk on KCAA Radio.
While it seems prudent to launch a business during good economic times, “anytime is a good time to start a business, said Martinez, who offers education and advice to small business owners. He said that success has less to do with the economy and more to do with being prepared. He stressed that the prepared entrepreneur will have the greatest shot at success even over well-established but ill-prepared competitors.
“Without proper market research and a solid business plan, a business is more likely to fail,” according to The Ultimate Small Business Guide. “The more advanced preparation that is done, the better the chances for success.”