There are a number of mistakes Maryland entrepreneurs sometimes make that can lead to the demise of their startup companies. Understanding these errors and then consciously avoiding them can help a business have a greater chance of ultimate success.
One of the major errors made by many small businesses is not having a business plan or having one that is inadequate. A good business plan may help the company by providing a blueprint so the owners can see where they need to work. Other problems occur when the business acts in a manner that is contrary to the plan due to a short-term concern. Instead, businesses can help themselves by having a good plan in place to start with and making modifications as needed on an ongoing basis.