Ok I admit, that's not the most uplifting introduction I've ever read either, but it's unfortunately true that most small businesses fail and that fear prevents a lot of people from even trying. So why not investigate what you can do to cut your losses if your small business doesn't make it. Maybe that's enough to give you the confidence to go ahead and jump in

Now, if you believe that starting a business is only for people who like taking risks, you're probably right. But no one ever said you have to get crucified because you tried. Only the terminally timid would think like that.

There are three main areas you can cut your risk and they're financial, emotional and family. None of them are simple but let's see what we can cover now.

To reduce the risks to your own self esteem if your great idea is shown to be a terrible mistake, remember that you are not a failure. Maybe the idea was ahead of it's time (euphemistically speaking) or you just needed a little more business and marketing experience. Maybe the newer, tougher competitors entered the market and probably you make some mistakes and bad decisions. But YOU are not a failure, unless you give up until that point, you are simply going through the time honored process of learning

Putting measures in place to protect your family if your business fails is also something you should think about. Remember, when you're under stress and feeling frustrated the people closest to you will know, even if you don't notice. When you beat yourself up, they'll hurt too.. but make sure your family comes first .

Yes, you'll lose some time with them when you're burning the midnight oil, but you have to understand one Kindergarten Thanksgiving play, one middle school graduation, and one fifth anniversary. The day that your child is too big for you to pick up will come sooner than you think. If you paid the price of all these missed events in your life because you were "at work" failing will cost more. Keep balance in your life.

How to protect your financials is probably the easiest thing for you to control – Don't over spend! If this is your first business - for heavens sake don't get carried away Look at an online business as a great way to amass a wealth of experience without risking an equal ton of money. There are different retailbusiness models where you don't need to pay for inventory. You don't need to spend a fortune marketing your online business because you can learn to do much of the important work yourself. It's a great way to keep a lid on your investment – and your risk- and if you're not willing to stretch yourself enough to learn new skills, you'll never make it. Once you have a little success going for you and have a better feel for what you're doing and how to buy it, you can outsource some of the work, but don't outsource too early in the game.

Starting a small Business is tough. Louise Collins, the author of START UP MISTAKES, learned that all too well. In fact, when she looked back at her first full year running her online business, Louise added up what her mistakes cost her. It came to over $20,000.00.

And that's why she wrote START UP MISTAKES - a look at what NOT to do if you're wondering how to start a small business when you'd rather turn your money into profits - and not lessons.

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