Opinions expressed by Forbes Contributors are their own. The risks of starting your own business can be small business strategic plan example, but the rewards can be well worth it. The fact is, however, more businesses fail each year than start. 548,159 closures and over 55,000 bankruptcies.
There are many reasons why a business fails. They include poor product concept, lack of a reasoned business plan, undercapitalization, insufficient marketing efforts, and changing market economics. So with statistics like these, how do you become a business success and not a business failure? The answer is to have a viable strategic and tactical plan, seek help, and be smart about how you set up your business and how much you spend to do that. Information about the type, nature, and products of your business. How will you generate sales, promote your product, and what media will you use to promote your product or services? Can you manage the business and also serve your customers?
Suppliers and banks look at your website for credibility and presence. But your web identity is more than just a website. A few years ago, creating a website was expensive and required outside technical consultants. Now it is quick and easy to do it yourself.