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All businesses start as an idea.

Actually, you might say that all businesses spark from a desire. A desire to be rich, a desire for high status, a desire to help lots of people, or maybe a simple desire to escape the ordinary. A lot of people desire to own their own business but only a few take the action necessary to transform their desire into reality.

If you have an idea for a business, what’s stopping you from following through on it? Many people hesitate because they fear:

• That it will fail
• Their friends and family will criticize them
• Loss of financial security

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So you’ve come up with a great idea for a service or product. What should you charge for it? Now I didn’t study economics or price points in college, so I have to set my prices based on common sense.

Here are some common-sense ideas to come up with a reasonable price:

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You have probably heard the statistic than nine out of every ten businesses fail within the first year of operation. Reading that is somewhat discouraging, isn’t it? It begs the question, what are the successful ten percent doing right? Are the owners of successful businesses born with more intelligence than the owners of the ninety percent that fail? Or do successful business owners choose to educate themselves more and work harder than the unsuccessful ones?

I believe that with persistence and determination, a person can acquire the attitude necessary to build a successful business. So how do you adopt the mindset of a successful business owner?

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