Entrepreneurs and business owners aren’t known for conformity. They go against the grain because settling for what already exists is less appealing than paving new paths. But this idealism and drive don’t come without risks. About 21.5% of startups fold within year one, and 30% go under in the second year. By the time year five rolls around, just 50% of startups are still operating.
Some of the more common reasons for failure include going after the wrong market, a lack of research and poor partnerships. Thorough market research, goal-setting and networking are necessary to help increase your chances of achieving a favorable outcome. So is perseverance and
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