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Fryday
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International Network of Professionals
International Network of Professionals

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Make new friends with Fryday!
Sign-up for business and expat networking events at www.fryday.net.
#Fryday #Networking
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There are many factors that will determine a success of failure of a start-up. Here is a list of some of the more important factors to consider.
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Many of the typical personality traits of a successful entrepreneur can be developed though training and experience and are not given from birth.
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To become a successful entrepreneur a person has to have many character traits that are not common among the general population and he must also be able to withstand some of the feelings and behaviours that are generally what society consider signs of success. The below characters traits are very common in society but for an entrepreneur they can be disastrous.
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There are many ways to build a small fortune in a secure way and some ways to get superrich, both require ingenuity, hard work, timing and a dose of luck. What they don’t need with certainty is a huge pile of cash right from the start.
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Finding business ideas and generating business is one of the most stimulating, rewarding, challenging and fun things a person can do and not only is entrepreneurship very beneficial for oneself but it is also the very foundation that wealth and prosperity rests on. Yet the process of finding and developing business ideas that works for a specific person is a sometimes complex and demanding process that can be hard to understand and cope with.
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Franchising has become increasingly more popular and is a good way for brands to expand fast. Franchising is also a great way for the aspiring entrepreneur and businessman to establish a business faster and with lower risk than would be the case should he or she had done it alone as the franchise system helps overcome all, or at least many, of the hurdles that a start-up face.
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When starting a franchise the costs are of course a major concern and while there are low cost franchises many charge huge fees and require large upfront investments.
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When considering a franchise you should look into the historical success, if the franchise has low costs and fees or high fees combined with heavy investment needs as well as the system, brand, size and other factors that will have an impact on the likelihood of you being able to manage the franchise and making it into a success.
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