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Have an idea to start your own business? Congratulations! Just know that you are not alone. In fact, statistics say that one out of every five people is thinking about starting a new business on any given day. That sounds exciting, but the reality is that of those people starting a business today, only 20% to 25% will still be in business five years from now.
Every year more than 20,000 products are introduced in supermarkets alone. Add to that, the other retail outlets available, the wholesale industry, and industrial component markets and service businesses. The number of products (and the companies who make them) grows exponentially. Sadly, 80% of all these new products will last for less than three years. So why is there so much failure? While there are many answers for business failure, about half of small businesses fail because they are not marketed properly. It is a marketing problem–product failing to reach their target markets effectively. It is a crowded field out there. The true entrepreneur is willing to take the time to plan properly before jumping into a new small business. That leads us to the big question: "Where do you go for help to transform your idea into a successful business?"
Start-up Assistance
If you have any other questions or need more information please contact Greg Cooper. |