If you have a startup business, you should realize from the get-go that the long-term survival of your startup is unlikely, statistically speaking. For every startup idea, very few ever get off the ground and even fewer are still around in five years.

Admitting your startup has failed can be difficult to do, especially if you’ve poured your blood, sweat and tears into the company. But here are a few reasons that should make you consider closing up shop and moving on:

No sign of profits in the horizon
If your company is constantly losing money or simply not producing enough money to warrant the time you spend on it, that’s the main sign that it’s time to admit the startup is a failure. However, be sure to give your startup a fair chance. In the online world, two years is usually the amount of time a startup is given to show some signs of life.

Loss of passion
Most startups are brought into life due to a passion one of the founders has bout the specific field or industry. If that passion disappears, it can be very difficult to keep going. Instead of fighting the feeling, consider selling or closing the startup.

Too much quality competition
If you have direct competition that has a better product that is available for less money, that’s an ominous sign. A good rule of thumb is that if you can’t rationalize why someone should utilize your product or service over the products of your competitors, a new direction is needed.

Self survival
If you are trying to support a family with a startup business and you can’t make ends meet, that is probably a sign that you need to figure out a new plan. You don’t need to necessarily shut down your startup, but harming yourself and your family to chase a startup dream rarely makes sense — especially if the chase has lasted a number of years.

Startup Failure (Image: Flickr)

When you create a startup company, you probably have million dollar dreams. And while being ambitious is a good thing in the startup world, you have to take the correct steps in achieving your ultimate goals.

Here are five steps to help control startup company ambition:

1) Outline your ultimate goals
It’s healthy to figure out the ultimate goals of your startup company. Doing so early on will help you figure out how to navigate the business through the early years.

2) Plan your short-term goals
Once you know your long-term goal, create short-term goals to get your business on the right road. You should plan multiple goals that act as stepping stones to the ultimate goals.

3) Concentrate on one goal at a time
Now that you have your goals, aim your company’s concentration toward one goal at a time. Try not to switch to tangents along the way.

4) Make Sure Everyone is On Board
If you have employees, they should all fully understand the next goal. Having everyone working as a team can build camaraderie and a sense of accomplishment once you reach each goal.

5) Remain Patient
Having a time frame limit for each goal usually does more harm than good. Goals can be attained at varying speeds depending on uncontrollable circumstances. Even if it takes years, remain patient and keep your eye on the goal that is in front of you.

Reach for the Stars (Image: Flickr)

In this podcast of Success Secrets, I interview Betsy MacKinnon, VP of Marketing & Communications at Inquisix.com

Inquisix is a wonderful new startup which may have the answer to the ongoing problem of finding an online networking group that focuses on business and business development.

Listen in to find out how you can become of of this company’s beta testers.

Image credit: Inquisix.com

I don’t know about you, but when I am up in the wee hours of the night, I am seeing a lot of infomercials telling people now is the best time to start a business.

I’m seeing such statements on many blogs and social media sites. But I wonder, is it really true? Or just some hype?

It’s easy to point to the latter. Times are tough and people are scared that their jobs may disappear (if they haven’t already). So having a plan B is always a good idea. But should that be starting a business?

Perhaps. If you are willing to do the work.

The many get rich with your own business ads are schemes: multi-level marketing/pyramid, or the how-tos offered often give you a taste of what you SHOULD be doing, but never the REAL secret sauce: how to make it really profitable.

Here’s why: ads and promotions like this tell you it’s easy. It’s not.

It takes a lot of hard work - probably more work than your typical job. And you MUST be willing to work long hours, including learning things like marketing, bookkeeping etc, that you may have never had to do before.

So is it possible to start a business in a recession? Sure, thousands have done it. But ask them how, and they won’t tell you it was easy.

Image credit: munny_makin, on Flickr

I’ve been searching for some new tools to help me save time and money this year. (Who isn’t?)

And a new site has caught my eye. It’s called FastDue and I think it may help a lot of people keep their business running in tough economic times.

Well, the reports are out.

The National Small Business Association is reporting (based on its 2008 Year-End Economic Report) that things are looking pretty bleak for small business owners this year. And those surveyed are pointing to the recession as the reason why their profits and growth will be extremely limited in 2009.

And according to a recent Gallup poll, almost half of small business owners say their revenues decrease last year - and are expexting more of the same by cutting their spending this year.

So so you want to join all these small businesses?

I didn’t think so. And although you need to be realistic in what’s going on out there, I am sure businesses can thrive in a recession.

But you can’t do the same things you did before. They’re just not going to work - and could actually hurt you.

There’s plenty of evidence that businesses which market wisely, compared to those who continue with the same strategies used prior to the recession, will be the ones do well. Penn State’s research, for example, showed that firms who had a strategic marketing plan with an entrepreneurial spirit had a competitive advantage.

So stop with the doom and gloom already - and start creating a great marketing plan.

Image credit:  gothicburg, on Flickr

If you’re a women founder or co-founder of a startup, you have a chance to win an amazing prize package, if you can create the perfect pitch to potental funders.

It’s Women 2.0’s 3rd Annual Pitch 2009: Startup Competition, and five emerging businesses will be chosen to pitch live on May 7.

Prizes include:

• One-on-one meeting with Michael Moritz
• 3 months of office space and mentoring
• Marketing strategy
• PR strategy
• Legal support

Now there is an entry fee of $25. And you may think you’re leaping through hoops to apply. (I think it’s fun stuff, but others  may differ). Youll need a business plan, a paper napkin idea presentation & a video.

For more information go to http://www.women2.org/pitch2009/

Whether you’re starting a business, or just planning new goals for the new year, it’s sometimes hard to know where to start, especially if you are a visual person.

Many folks recommend mindmapping as the way to get those goals or visions on paper.

Mind mapping is a technique popularized by Tony Buzan in the 1960s. Noticing that the humans respond better to images, keywords and direct associations, he developed many of the mind mapping techniques that we see today. And before Buzan formalized it, thousands had used the techniques including journals  Leonardo da Vinci, and Albert Einstein.

Here’s the basics:

1) Set your topic (what you want to brainstorm/mind map) on the center of the page, such as ‘2009 goals’ ‘Business Idea’ etc

2) Create pitcures or words that are themes that relate to the topic. For example. if your topic is ‘Goals 2009′, you might want “Personal Goals”  and “Professional Goals”

3) Continue breaking down the themes until you’re brain can’t work any more.

Do you use mind mapping?  Frankly, I’m more of a list girl. But am willing to try it if many of you think it has merit. Has it helped you?

For more inspiration, here’s Tony Buzan explaining mind mapping.

Image credit: creativeinspiration, on Flickr

Thanks so much for being a reader here at Startup Spark. It’s time to celebrate, and one of the ways I do it is to give you a couple PR gifts as well:

So whether your question is on how to write a release, or even helping you find a newsworthy idea to pitch to the media, I’ll be helping you for free… if you make the call.

To register for the NOON call, go to https://cc.readytalk.com/cc/schedule/display.do?udc=103rcboobfagy

To register for the 8 PM call, go to https://cc.readytalk.com/cc/schedule/display.do?udc=xf6qjr5f3s1z

And for an extra PR boost, don’t forget to download a free press release. Please visit http://www.beheardsolutions.com/holidaygifts20081TO.htm

Image credit: bpitzer20, on Flickr

There’s been a lot of talk about if social media can really convert tweeple into paying customers.

Well, it can be done.

According to Dell, they’ve made more than $1 million in the past year and a half they been twittering. People who sign up to follow Dell on Twitter receive messages when discounted products are available the company’s Home Outlet Store. They can click over to purchase the product or forward the information to others.

Imagine what it can mean for your business.

But be cautious. Remember, Twitter a communication tool, not the be all and end all of the way you reach your target market.

For me, I’ve decided to do some testing in the new year and see what happens.  Int he new year, I’m going to post some Twitter-Specific special coupon codes for discounts on products and services. We’ll see what happens.

Image credit: Fr3d.org, on Flickr