Kaufman & Forman, P.C.
Call to arrange a consultation
678-957-7769 | 770-390-9200
Contact Us
practice areas

Georgia business formation -- if at first you don't succeed....

"I have not failed. I've just found 10,000 ways that won't work." That statement has been attributed to Thomas Edison, the inventor of the incandescent light bulb. The same could be said for business formation here in Georgia or anywhere else. Hopefully, it will not take 10,000 tries, but there is no reason to give up on starting a business just because of a past failure.

Many of the most successful entrepreneurs in our country failed at some point. For instance, Microsoft was not Bill Gates' first attempt at starting his own company. The key is not to give up. Most every successful business person will say that taking risks is part of the process.

If a venture does fail, a careful review of what happened could be in order. Discover what went right and what went wrong. Make a plan that addresses the problems in the last attempt so they do not recur.

Sometimes, a business plan fails to adequately address expenses or overestimates income. It takes time for a company to get off the ground, and having unrealistic expectations could cause problems. Perhaps further, more in-depth research is needed in order to ensure that there are as few surprises as possible.

Many Georgia entrepreneurs may fail their first time at business formation, but that does not mean they should give up. Perhaps consulting with someone versed in the legal and business requirements for starting a company could provide the additional insight needed. It may not be possible to account for everything that could go wrong, but identifying and making a plan for as many contingencies as possible could ensure success the second time around.

Source: The Huffington Post, "How to Start a Business After Multiple Failed Attempts as an Entrepreneur", Stacia Pierce, July 17, 2014

No Comments

Leave a comment
Comment Information

Contact Kaufman & Forman, P.C. Now

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

get Legal Help Now

Kaufman & Forman, P.C.
8215 Roswell Road
Building 800
Atlanta, GA 30350

Toll Free: 800-461-5864
Phone: 678-957-7769
Fax: 770-395-6720
Atlanta Law Office Map

Review Us

Robert Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the May issue of The American Lawyer & Corporate Counsel magazine.Alex Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the December issue of The American Lawyer & Corporate Counsel magazine.

*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.