BizzAlley-3 Common Reasons Small Businesses Fail The First Year And How To Avoid Them
- 5 years ago
8 out of 10 new small businesses fail within the first 18 months according to Forbes research.
The clues these failures leave behind can help avoid succumbing to the same fate.
Number1. Lack of Market Research Before Launch : Identifying your strengths, weaknesses,
opportunities and threats is really important for a successful business.
Number 2 Leadership Failure : Knowing yourself, hiring the right team and leading them
effectively is another key to success.
Number 3 Rapid Growth or Expansion : Careful planning at every level of operation is a must-
have for any small business to succeed.
The clues these failures leave behind can help avoid succumbing to the same fate.
Number1. Lack of Market Research Before Launch : Identifying your strengths, weaknesses,
opportunities and threats is really important for a successful business.
Number 2 Leadership Failure : Knowing yourself, hiring the right team and leading them
effectively is another key to success.
Number 3 Rapid Growth or Expansion : Careful planning at every level of operation is a must-
have for any small business to succeed.