A successful business requires a lot of work. For your business to be well off, you must first understand what that means. Even with products and services that are popular, there is a need to innovate continuously. That is why it is important to be creative and unique and continue to do so at every stage of the venture. Secondly, as the employees are the heart of any company, the type of people that you hire will greatly affect the end-results. This, in turn, will also alter the company culture, and will thus continue to make it appealing to the right type of prospective employee. You can’t forget about a good online presence so that everyone can find you, the power of emotional marketing, financial stability, a good strategy and taking a look at what the competition is doing. After all, you always want to aim for better. Persistence and adaptability are the final two points to consider.Continue reading
If you are planning a startup, know this: you are statistically unlikely to succeed. According to Forbes, nine out of ten startups fail. They may have run out of cash, have ineffective management, fail to properly market their product or service, or some combination of all the above.
But you are not destined to fail. Before you even think about opening your doors to the public, you need to ensure that your business is prepped for success. Here are five factors that commonly cause startups to fail and what you can do to keep your future business afloat:
1. Financing Your Startup with Predatory Loans
Getting startup capital can be a struggle. Bootstrapping your business is a challenge for most starting entrepreneurs, so getting a loan can seem like a wise move. Continue reading