3 Reasons Why Small Businesses Fail (And How to Avoid Them)

According to research by various organizations like the Small Business Administration, 50% of new businesses will fail within the first five years and only one third of new businesses make it to 10 years or longer. Royalty Free Photo So why do so many new businesses fail within the first five years? Here are three … Continue reading “3 Reasons Why Small Businesses Fail (And How to Avoid Them)”

According to research by various organizations like the Small Business Administration, 50% of new businesses will fail within the first five years and only one third of new businesses make it to 10 years or longer.

Royalty Free Photo

So why do so many new businesses fail within the first five years? Here are three mistakes new businesses make and how you can avoid them.

1. Failing to Have a Good Business Plan and Doing Market Research

In order to start a small business successfully, you need to have a good business plan and do your market research. You may have a fantastic product but if there’s very little demand for it in the marketplace then your business is doomed to fail from the outset.

Take your time when doing market research and determine how much demand there is for your product or service. If you’re going to open a dog grooming salon for instance, are there enough dog owners in the area with the types of dogs that need regular grooming? How much competition is there for your business? What type of services does your competition offer and can you add extra value to what your business will be offering to potential customers?

This type of information is fairly readily available from local councils in the form of local area statistics on the type of households that reside in any particular area. Make sure you do enough research to establish whether setting up your business in any given location would be a viable proposition.

Once you’ve done your research, you need to set up a simple business plan so that you have a roadmap on how you will establish your business, how much finance you’ll need, whether you’ll need staff and how you are going to market your new venture. You can find software online which will enable you to write up a business plan quite easily and effectively.

2. Not Having Enough Startup Capital

Once you’ve made your business plan, you’ll have a better idea of how much startup capital you’re going to need to set your business up successfully. You should also factor in the costs to keep your business running for the first year or two as profitability doesn’t happen immediately.

Also, consider your personal living expenses as these will still need to be covered whether your business is making a profit or not. You may like to consult with a financial adviser or maybe use an online startup calculator to accurately predict how much money you’ll need to have in reserve. And don’t forget to also factor in marketing and advertising costs.

3. Inadequate Marketing

Even if you have the most fantastic products at competitive prices, if your potential customers don’t know about them or where to find them, then they can’t purchase from you. In today’s fast paced world, it’s almost mandatory for any business to have an online presence so even if you have a physical store you should also consider having an online store as well.

This will not only enable you to sell more products but will also broaden your customer base much wider than your local area. You can get assistance for setting up an e-commerce store from companies like bingdigital.com who are specialists in this industry and will give you advice on effective marketing strategies as well.

Conclusion

If you do adequate research, create a viable business plan, have enough startup capital and an online and marketing strategy you’ll have a much better chance of building a successful and thriving business. Make sure that you steer away from the mistakes in this article if you don’t want your business to become another statistic.

E juice – Quit Smoking Today – the Secret That Can Have You Smoke-Free Today

To get rid of this old trend of smoking dangerous cigarettes then it is e cigarettes that providing the people to have better enjoyment of vaping. This new trend that is very much safe to use is also very easy to handle. E cigarettes are very much helping those people that are interested in quitting the old harmful trend of smoking. There is no doubt that you have thousands of people that have left old trend and have adopted this new trend and in their views on the internet you will come to know that they are appreciating this new trend that has helped them to come out from the bad habit of old trend of smoking.

Comes in various flavors

 

It is coming with the e juice that are having different flavors like menthol, regular, mango, grapes, banana and many more to experience. There is no risk to the health and you will enjoy vaping this new trend of cigarettes. If you like to have the chocolate flavor then it is very much available. The flavors that are coming are very much safe to use. The delivery of these flavors that you are getting is for free if you will buy any of these flavors from the internet. Flavors that are available in the market are having the discount offer if you purchase any of these flavors online and this new trend of smoking is helping people to come out from the dangerous old trend of smoking.

 

You are going to have the best enjoyment for using this trend of smoking and you can enjoy this as you have flavors that are more than 70 flavors that are available in the market. People from all around the globe that have change from the old trend to this new are very much satisfied and are also living happy with their family. This product is also cheap in rates as compare to the old trend. This new trend will save lot of money to you.

Online Shoppers Love Mail Forwarding for International Shipping

No Global Shipping?

 

Many companies offer their products online to the global market, yet there huge problem for those who want to purchase products items where you are located, and that is international shipping. These same companies and corporations do not provider a way for their online customers to get their purchases shipped to where they are.

 

Some companies actually have international outlets clients can go to and purchase their products, physically but unless you live in the countries and the extensive cities they are located in, you are talking about a long drive from one day to many days, depending on where you live as well as  where the nearest outlet is. Gas prices only don’t warrant an international travel for a single brand name tablet. And most times, what is obtainable is not the same selection as provided in the main store.

 

Other companies do not have global outlets. That is what their websites do, to reach global clients. But, the same dilemma of offering no world-wide shipping still exists. It doesn’t make any sense.

 

Why No Global Shipping?

 

That’s a nice question, and there is a good answer. Reasons can vary, but many main reasons for why big companies may opt not to provide international shipping comes down to potential, profit,  liability as well as what they feel is needless bother that is not offset by major profit. First, they need to have exporter compliance, which means employing enough staff to make sure this is well monitored and standards are met.

Secondly, there is the question of if the investment cash used for offering international shipping will be best used on other expansions. And lastly, there is more liability concerned that brings with it an unidentified variable of possible cost or loss. Besides that, main problems, there is the  hassles involved, that also, reflects in having to look for additional staff to manage  that, that in simple terms, equates to  taking away profit. For instance, they have to strengthen packaging to make sure that the parcel will stay intact and protect the products for the entirety of the global shipment. Also, liability as well as replacement costs are an issue. Also, Customs forms have to be done and signed, and that means more staffing must be hired and paid. There are unquestionably other reasons companies have in addition to the ones given above, as well.

 

The Answer?

 

Nevada mail forwarding is your answer. Mail forwarding providers act as personalized concierges to collect, handle and forward products for global clients.

 

How does it Work?

 

Mail forwarding works pretty simple. Let’s say a client in Norway needs a popular Nevada brand made computer tablet. This client goes online and makes use of a Visa credit card to buy it with. The business will request for an American address where the product will be sent to. That is where a Nevada mail forwarding service comes in. The Norwegian client uses an address that the forwarding company offers (mostly the customer’s real name with the mail forwarding company’s address). The client finishes the order and the company delivers the product to the forwarding service company. When received, the forwarding provider gives an invoice for payments, the client pays and the product is shipped to Norway directly, to the customer. It is that simple.