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Business strategy
Number 1 reason why new businesses fail
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[QUOTE="Deleted member 13140, post: 202666"] You want to start a business, you might want to hit pause on that thought and finish reading this, According to Research 20% of new enterprises fail during the first two years, 45 percent within the first five years, and 65 percent within the first ten years of operation. Only 25% of new firms survive for 15 years or more. And I think I know why - [B]Bad Location, Bad Internet Presence, and Marketing[/B] it just comes down to this two, And let me explain If your business relies on foot traffic, a bad location is self-explanatory. A poor Internet presence, on the other hand, is just as harmful. Your company's online presence and social media presence can be just as important as its physical location in a shopping district these days. People will know that they may give you their business if you have an internet presence, therefore if there is a need, making your business available and visible is the next step. This is analogous to the concept of marketing. You must not only ensure that your marketing reaches people, but that it reaches the correct ones as well. As a result, be sure the type of marketing you're using is appropriate for the population you're trying to attract. Large billboards may not be the best method to promote an Internet company, just as online advertisements may not be the best way to promote a heavy-construction company. If a need has already been identified, make certain you're contacting the people who require your product or service. Just know when to use online ads and offline ads, in general have a marketing strategy, choose your location wisely [/QUOTE]
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Number 1 reason why new businesses fail
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