In this day and age entrepreneurs of new businesses are facing more competition than ever before. While the internet has clearly created all kinds of opportunities that would not exist otherwise, it also has led to more competition than ever. This means the success rate for new businesses is relatively unchanged.
Some sources claim that 90 to 95 percent of new businesses will fail, and, unfortunately, many people believe it. While it is no secret that it takes considerable planning, commitment, and perseverance to start and run a successful business, the 90 percent failure rate is pure myth. The origins of this myth are unknown, but a recent study conducted by the Harvard School of Business may perpetuate this myth.
According to their study, the Harvard School of Business estimates that 95 percent of small businesses will fail. Unfortunately, many people seem to interpret this number incorrectly. However, a closer look at the study reveals that these scholars viewer failure much diff Continue reading “Essential Online Marketing Strategies for All Businesses”