80% of small businesses fail. Why?
8 out of every 10 small businesses fail within 18 months of opening. Given the amount of small businesses who never create a website, 45%, we know that some of them fail without ever knowing their full potential. Here are 6 things you can do to make sure you don’t end up with the failing 80%.
#1 An Airtight Business Plan
#2 The Ability To Identify A True Market Need
#3 Being Able To Calculate Profitable Pricing
#4 Managing Cash Flow Like An Accountant
#5 A Prepared Management Team
You need to create awareness for your brand. You need a website. You need social media. A website helps you build credibility and a reputation for your brand. Everyone looks online to check out a business before engaging with them. They look for reviews and information to make sure you offer what they need. Social media helps you communicate with your clients and potential clients and brings attention to what your business does. See the facts on websites and small business.