The U.S. thrives based on the millions of jobs created by small business owners. Although these small businesses play such a vital role in our economy, a huge amount of risk surrounds new ventures that makes most prospective entrepreneurs hesitant to jump on board for just any promising idea.
Nearly 95 percent of new ventures will close within the first five years of operation. Essentially, these owners lack the business acumen that is all but required in today's business environment for success and longevity. Having knowledge of how to successfully and efficiently market your product can take you a long way in your industry, so keep the tips provided in this infographic, like starting small and knowing your market, in mind when you hammer out your strategy for success.
Check out the infographic below presented by Top-Business-Degrees.net to learn more about the most tried and failed small businesses!
Brian Wallace is the President of NowSourcing, a social media firm specializing in infographic design, development and content marketing promotion. The company is based in Louisville, KY and works with companies that range from small business to Fortune 500.