In my book Business Strategies for Start-Ups on a Shoestring Budget, I highlight the five key areas that many entrepreneurs and micro-business owners fail to invest time and other resources in. This, unfortunately, often leads to stagnation and even in many cases to the failure of the business venture.
Forbes Magazine reports that ‘…eight of ten new businesses fail in the first three years’, while a study conducted by the analytics firms CB Insights found that ‘Companies typically die around 20 months after their last financing round and after having raised $1.3 million. Companies in the social industry saw the highest of number of start-up failures in the period 2010 – 2013.’ Sad! Right?
Create the Foundation
Invest in your personal and professional skills and knowledge and focus on reducing expenses, in every aspect of your business.
Increase your Productivity & Financial Freedom
Create a multi-stream passive income, which does not involve much maintenance to acquire, stop procrastinating and start to delegate all non-income generating activities to a member of staff, friend or family member.
If you are interested in diving deeper into ‘How to turn yourself and your start-up business into high productivity mode’, I invite you to click here , to check out my new book and to receive the first chapter FREE of charge, when you sign up for email updates.
All the Best,
P.S.: Share this post with someone you like help to create a successful business!