There are many reasons why many businesses don't survive beyond three months, and two of these reasons are a lack of business research and strategic planning, especially touching on financial projections.
Below are three costs that you need to factor in for the growth of your business.
1. Cost for starting your business.
2. Cost for operating the business.
3. Cost for scaling the business.
Usually, many people focus more on the cost of starting a business only, and when things don't work, they shut down completely or move to the next business.
How come there are people who have done the same business for more than 5 years and beyond and still do the survive any wave?
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Many of the things we learnt in school are no longer relevant, which is why we must be lifelong learners in order to build a fresh mindset to face current and developing difficulties in various areas of life.
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