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Ok I admit, that's not the most positive headline I've ever read either, but many small businesses fail and the fear of failure 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. It might just be what you need to do to get out there and go for it.

Now, if you're thinking that to go into business you need to be a risk taker, you're probably right. But no one ever said you have to take a beating because you tried. Only people who will never try would think like that.

There are three main areas you can reduce your risk and they're Emotional, family & financial. None of them are simple but let's see what we can cover in a short article.

To insulate your self esteem if your great idea turns into a small business failure, remember that that only the idea failed - not you. Maybe the idea was ahead of the curve or you only needed more experience. Maybe the competition was tougher than you thought and probably you make some mistakes and bad decisions. But YOU are not a failure, unless you give up until that point, you are just accumulating experience.

Making sure that your family doesn't suffer if your business fails is important to plan for. Remember, when you're stressed or frustrated or disappointed the people closest to you will share you pain, even if you refuse to share it with them. When If you're hard on yourself they will be upset. 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 Easter pagent, one middle school graduation, and one tenth 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" the pain of failure will be all that much harder to carry. Don't give up the balance in your life.

How to reduce the financial pain is probably the easiest thing for you to control – Don't over spend! If this is your first business - for heavens sake don't invest money you don't have Look at an online business as a great way to build a ton 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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