B
efore you begin a new business, however, you should realize that the first step is research. Nearly 67 percent of new businesses fail within their first three years of operation, with the primary reason stemming from a lack of proper research. There are steps that can increase your odds of success, and while they are not foolproof, they will increase your chances of survival.

What makes one business fail and other successful? There may be several reasons including but not limited to poor customer service, poor logistics and cost management and inadequate product, but the major reason is the lack of a business plan.

Research & Feedback

The biggest risk and threat to your business idea is failing to research and backup your assumptions.

Galin B, CEO HTML Puzzle

A goal without a plan is just a wish. Define your strategy and tactics for execution of special activities including key dates, deadlines, budgets and cash flow. Never assume that your goals need to be small to accommodate your limitations. Think big.

Experts generally agree that startup businesses often fail because they run out of money too quickly before turning a profit. It’s never a bad idea to overestimate the amount of startup capital you need, as it can be a while before the business begins to bring in sustainable revenue. Additionally, don’t overspend when starting a business. Understand the types of purchases that make sense for your business and avoid overspending on fancy new equipment that won’t help you reach your business goals.

Tasks like naming the business and creating a logo are obvious, but what about the less-heralded, equally important steps? Whether it’s determining your business structure or crafting a detailed marketing strategy, the workload can quickly pile up. Rather than spinning your wheels and guessing at where to start, follow this 10-step checklist to transform your business from a lightbulb above your head to a real entity.

FEW SIMPLE STEPS:

    • 1. Refine your idea
    • 2. Create s Business Plan
    • 3. Go online with website from Puzzle
    • 4. Build Your Dream Team
    • 5. Assess your finances

HOW TO START?

While more business are working 100% virtually and location independent, where you choose to base yourself, or locate different parts of your business and recruit from can make a big difference. Whatever your IDEA is, our team of specialists will help you to succeed. We can develop a business plan, create a stunning website and start a marketing campaign.

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