Did you know that only 33% of small businesses survive for ten years or more? Only half even manage to make it to five years! With odds like that you might be wondering what it takes to succeed. While there isn’t one single secret ingredient to a successful small business, there are a number of things you can do to improve your chances!
For example, some experts will tell you to test your product and service ideas in the real market as soon as possible. Everything from a line of products to your website’s tagline can be tested easily now thanks to social media and technology. Testing allows you to minimize risk and make more educated decisions for your business. Next, you need to make customer satisfaction your top priority. Customers have more ways than ever to express their opinions about your business, and happy ones singing your praises will bring more and more to your door. It’s also important to hire the best people you can find. Some CEOs would say that the secret to success is hiring people who are better and smarter than you are, and a crack team can go a long way to ensuring success!
Read the full article here: Beating the Odds: 6 Secrets to Success