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Help Us Create the Ultimate Cheat Sheet: 10 Rules for Starting a Small Business

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Improve On an Existing Business Idea

7

If you have a business idea that "no one else is doing," there's probably a good reason. Instead, look for existing business ideas you can improve upon, and look for existing business ideas that are not available in a certain area (if you're tied to a geographic area). For every Steve Jobs and Facebook, there are tens of thousands of failures. In other words, trying out brand new ideas is just an expensive way to learn about statistics, or play the lottery.


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