Most Business Fail; 3 Ways To Succeed

BANGALORE:  Only 20 percent of new businesses last for more than 18 months. With such statistics being common knowledge, it is surprising that people start business at all. However, these statistics fail to address why majority of businesses fail. There are probably many different reasons, so a better question to ask would be: “How does a business succeed?” Tweakyourbiz.com has compiled a list of three basic factors that affect business success.

Walk before you run

Most people have heard stories of famous companies that were started in a garage. These famous companies like Amazon and Google, kept costs low even when they had millions of dollars in venture capital funding.

They started off as small businesses and scaled their structure only once there was enough demand to justify it. Perhaps you have a billion dollar idea, but don’t start by spending millions; otherwise you won’t reach that stage.

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