Just because you can, does not mean you should. Keep in mind these three broad observations.
More than half of all businesses are still trading after 5 years.
But if you going to fail, most will fail before their 12 months are up.
Catastrophic failure, where the owners loose just about everything is 1-2 percent of all cases.
When businesses are asked to reflect on what they have learnt, here is what they often say.
They stayed 1-2 years too long in the business (that is the writing was on the wall but they stayed in hoping..)
Not building a network. This includes not joining business groups or having good access to their accountant.
Not being able to hire good staff.