Building a business from the ground up is an exciting endeavor. While many entrepreneurs dream of launching their very own startup, few pull it off successfully. Statistically speaking, 20% of all startups fail in the first year. Flash forward five years, and the failure rate jumps to 50%.
This failure rate often isn’t a result of having a bad product or service. Many startups have great, innovative products that have a lot of potential. The challenge is that startups face many headwinds in their early years, especially when they are competing in sectors that have large established brands.
