By: Christina Nguyen
Just like many relationships and objects in life, businesses aren’t permanent -- data shows that not all of them make it past 18 months. Even a business thriving in the fall of 2019 could have sunk in April 2020. This is likely due to the business not being able to adapt to changing times, but there could have been a host of other factors as well.
Running a business in any industry is a complex, multi-faceted challenge. The reasons why so many businesses don’t last vary greatly depending on the actions of the key decision-makers and the status of their target market.
Here are some ways to make your business last and keep it sustainable:
1. Know your target audience in as much depth as possible, staying updated.