11 tips for surviving your first year in business

Safely traversing the rough seas of your first year in business requires careful planning.

Traversing the rough seas of your first year in business requires careful planning.

The first year in business can be a tough storm to weather. No wonder that, according to the U.S. Bureau of Labor Statistics, only 50 percent of startups make it through the fifth year. One of the principal missteps a new business can make is trying to do too much at one time. The key to success in the first year of business is to succeed with simplicity.

 
Get your new enterprise off to a strong start with a clear objective for each part of your organization. These 11 survival tips will allow you to navigate the rough one-year-in-business waters, keeping you on course in ill winds and enabling you to sail at top speed when the wind is at your back.

Infographic created by Express Trade Capital.

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