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On behalf of Kadish & Associates Law Group posted in Closely Held Businesses on Friday, April 10, 2015.

Our last post focused on how trade secrets can be protected as businesses grow and rely on their unique attributes to succeed in the marketplace. We hope that our readers were able to gain some insight and helpful tips so that they can avoid issues that can lead to litigation.

But it is not only trade secrets that make a business successful. In fact, there are a number of things that can take a business from being a run-of-the-mill startup to a burgeoning enterprise. However, there are myths along the way that can thwart the growth of a business. This post will highlight a few.

• Success is only achieved through a dynamic CEO – Indeed, a smart and charismatic CEO can help a small business grow, but it is more than just a leader that leads to success. However, it is a myth that only a CEO makes the difference between a successful business and one that has challenges.
• Our business should help our customers – It is okay to stay small for the purpose of being nimble and agile so that you can adjust to your customers. However, trying to be everything to every customer could stunt a company’s growth.
• You must be “cool” to succeed – Many startups may be seduced by the following that Apple has generated by taking innovative (yet bland) products and making them “cool.” While being cool is helpful in separating your business from the herd, focusing on establishing solid business practices to go along with being cool can lead to longevity.

The preceding is not legal advice.