Growth

Rich and Co.

“Statistically, approximately 30 per cent of start-ups survive beyond three years, which would be two out the seven businesses.”

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The ultimate causes of business failure are usually financial and are often the result of one of three problems: low sales volume, low selling prices and high business costs. Poor sales and prices can be caused by external factors such as a weak economy, or internal reasons such as poor selling skills…

the barriers to sales proved to be:

  • achieving truly professional product quality
  • insufficient personal confidence to sell
  • a general client resistance to paying realistic prices
  • misconceived products

the creative thread often took second place to personal and business issues and was completely abandoned in some cases, or becoming a hobby rather than a source of income…

the agencies supporting creative graduates perhaps ought to think of the business start-up as the first exploratory step in a longer personal development journey (which might or might not be entrepreneurial), rather than an end in itself.

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Written by Rich and Co.

May 30, 2016 at 7:15 pm

Posted in Uncategorized

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