If you are thinking about starting a new business, there are many considerations to make. Do you have a good workable idea that will provide some value to the community? Do you have a great team of people who work well together and are motivated to sell? Do you have competition that could put you out of business? Are you capable of managing cash flow? These are all things that could put you out of business, and it could happen sooner than you think. Twenty percent of businesses fail within the first year, and a whopping 70% fail by the tenth year.
These are businesses that succumbed to cash flow problems, employee turnover and retention problems, or they just found the market for their product had dried up. It’s important to ensure you build a fail proof business, and one of the best ways to do that is to maintain flexibility in the face of market changes.
Learn more about why businesses fail from this infographic!
Infographic by: www.insurancequotes.com
These are businesses that succumbed to cash flow problems, employee turnover and retention problems, or they just found the market for their product had dried up. It’s important to ensure you build a fail proof business, and one of the best ways to do that is to maintain flexibility in the face of market changes.
Infographic by: www.insurancequotes.com
