If you can't explain what exactly your business does and why it will be successful in one or two sentences, then you need to go back to the drawing board. First and foremost, you need to be clear and specific as to what the business is about. Once you've come up with something that makes sense, practice pitching your idea to your friends, family, even your mirror, until you can effectively answer any question that's thrown at you. It's the best way to work out the kinks.
15 successful people share their best pieces of advice.
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.
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