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Thinking about possibly starting a new business? This could be excellent if your entrepreneurial spirit is rising—if you keep a few things in mind. While 40 percent of small businesses are profitable, 30 percent are continually losing money. Nearly half of all small businesses fail within the first year. Despite how great you think your business idea and model is, it’s in your best interest to start small.

A common downfall of many small businesses is that too much cash is tied up in overhead at the beginning. It’s also important to really understand your market by learning as much as possible about your target demographic. To succeed, you’ll need to maintain quality merchandise, listen to your customers, define company goals, and effectively market your business.

To learn more tips on how to start a small business,  some of the more high risk business ideas, and small business essentials, check out the infographic below presented by top-business-degrees.net.

The Most Tried and Failed Small Businesses


NowSourcing

Brian Wallace/a> is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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NowSourcing

Brian Wallace/a> is the Founder and President of NowSourcing, an industry leading infographic design agency , based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-2018. Follow Brian Wallace on LinkedIn as well as Twitter.

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