Why do Businesses fail? Do you know on average about 1 out of 2 businesses fail during the first year? And only about 25% of them survive beyond 15 years.
So what are the 5 top reasons businesses fail?
#1 Not Satisfying a Need
Do Proper Market Research Before You Start a Business!
#2 Bad Business Plan
A realistic and sound business plan helps you to strategise
#3 Lack of Financing
Be realistic at the beginning so that you can plan to start with enough money that will last you to the point where your business is up and running and cash is actually flowing in.
#4 Rapid Expansion
Make sure you do the same research, and take the same amount of care, as starting a business, when you decide to expand.
Be on top of critical trends and allow yourself lots of time to adjust your strategy to remain successful.
Business Heroes Infinity as a stand-alone entity has survived for over 5 years, and we continuously adapt and respond to the needs of the market. Our parent company has survived for over 15 years, as it expands into different industries to satisfy growing needs in different markets!