One of theriskiest time for
however any kind of business is when it
has just begun. In the first two years,however three of the every ten
startups generally expire. Thus, By five
years, half of those startups are
however history.
It hasthus beennoticed that often , the newbie
retailers sign a one-year lease. Theygenerally hang on 12 months since they're however obligated in order to pay the rent that long anyway. Then the
minute that however expires, theythus dry up and also blow away.
The purpose of this article is to make
the reader aware of the 5 tips for surviving the startup’s first year .
In order to improve the odds
that your startup will however survive that tough first year ,Here
are however the five key steps to take:
1. Talk
to customers.
Doing of market research at the start can
however help the entrepreneur in order
to avoid so many mistakes. The
entrepreneur will however have the right offer, at the right price, in the
right market.
2. Choose
your location carefully.
Despite of the fact
that is a great website URL that's however easy in order to remember or thus a retail location with enough foot
traffic, the person must however make sure that his business is where it however needs to be.
3. Keepthe
expenses down.
The person should
however look for every possible way in order to save. This will thus allow him
in order to keep going longer, hopefully
until revenue starts in order to cover
the nut. He should however Hire interns, trade services, postpone
purchases, or either pick up a broom and
then must do it himself . He should however Do it all himself, for as long
as is thus needed.
4. Plan
for problems.
The only thing which is
however as sure as death and taxes is that the unexpected issues will however
crop up with the baby business. He must however sit down and must however think about everything that could however
go wrong -- then, he must thus make
a plan for how one will survive each
possible scenario.
5. Analyze
how it's going.
Even though it'sthus hard in order to find time in those crazy startup days, it's
thus important in order to stop
and look at the numbers in order to
see where the business is thus headed. Is that where he wants to go? If not, then
he must change his course. Most successful startupshowever went through multiple iterations before they
however found their groove.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for GST Software, GST Return Filing, GST Registration, Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online.
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