If you’re thinking about starting a new business and getting set up on the market then you might have heard that most new companies fail. Some polls suggest that more than 90% of new startups fail in their first year. We admit, this isn’t particularly promising but you have to remember that it’s ridiculously easy to start a business and not everyone does it the right way. In fact, most people will make critical mistakes and these are the problems that you need to avoid. Luckily, there are ways to all but guarantee that your business is successful.

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The world changes at a rapid pace. If you don’t believe this, then just take a look at the coronavirus pandemic. Companies went into a state of lockdown in a period of days and the economy almost completely came to a halt in a matter of weeks. Governments change their decisions on a seemingly hourly basis and there has been a constant influx of live news updates.

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Promotional networking events are criminally overlooked by startups across many business sectors. When used to their full potential, they can enhance your company in many ways. From fundraising to securing big B2B orders by retailers and organisations, a single event could change your future. While there are several objectives to consider, it all starts with impressing your guests.

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You can launch a startup from the luxury of your home, but it doesn’t have the same pop. There’s nothing like having an idea and watching it come to fruition, from hiring employees to renting office space. So, you go out and get some quality real estate that will act as the firm’s official headquarters.

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When starting a new business, you will face a wide range of challenges. Perhaps the most significant obstacle, though, relates to your capital. Without money, even the best entrepreneurs will struggle to turn their innovations into profit. It will take time for the company to grow enough customers to turn a profit, which is why managing your expenses is pivotal.

Thankfully, there are plenty of ways to stop the costs from spiralling out of control. Here are five of the best.

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Whether you’re making baby food, fashion for kids, holiday packages for teenagers or pocket technology for the youth, you have to approach marketing in a very different way as opposed to for adults. Children are not as smart as children, but if you make the mistake of thinking they’re not as witty or aware, you will pay the price dearly. Every business has to have a youth department or a team of workers that know how to market their products and services to the younger generation. But small business owners don’t have a team of marketing and or psychologists to help them create an effective campaign that children will love. Don’t give up just yet, because there are a few simple rules you can follow.

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