Laying The Groundwork: Essential Steps To Establish A Strong Business Foundation gettyAn estimated 20% of businesses will not make it to the one-year mark, according to Investopedia. However, successful entrepreneurs know that a strong foundation is the key to long-term growth. This foundation encompasses a clear business plan, a deep understanding of the target market, a coherent branding strategy, and efficient operational frameworks. A Clear Business IdeaEvery successful business is rooted in a clear, well-thought-out idea. A Strong Business PlanBusinesses with a clear plan are twice as likely to succeed as those that don’t, according to Small Biz Trends.

Source: Forbes January 20, 2024 05:07 UTC