It is more than the American dream. Many would say that it is our birthright: starting a business. And ironically, sometimes success can lead to failure.
“Regardless of what kind of business,” observes Bakersfield, Calif.-based CPA Michael Stevenson (opens in new tab), “the risk of failure should always be kept in mind along with a large question mark: ‘What, if anything, could I be doing wrong? What have I missed?’ Answers to these questions spell success or failure.”
Agreeing with his colleague, Dr. Di Wu (opens in new tab), department chair and associate professor of Accounting at California State University in Bakersfield, strongly maintains, “It is critical to know what takes a fledgling business down the road to failure.”
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