While most small businesses survive at least one year, less than half make it past five years. Businesses are most vulnerable to mistakes during their first few years in operation – the most crucial time to establish a presence.
Below are five hacks to avoid making the most common mistakes during your first few years in business.
1) Have a mentor or business coach to help keep you on track.
2) Don’t delay setting up a social media presence.
3) Establish a plan of action with a specific timeline.
4) Don’t be afraid to take risks.
5) Re-evaluate your business at least once a year.
– Haley Pegg, New Orleans Chamber