Studies done suggest most of business start-up fail within their first 5years.
I fail to admit that in context because what these studies suggest as failures i categories them as part of upsurge or down surge in any business cycle.
I admonish you can get into any business so long as you follow this principle of 1: 3 ratio.
That will be the basic standard in ensuring you can be successful in your venture .
Most start-ups fail to survive because they fail to apply the 1: 3 ratio principle when venturing into business or any expense related decision making.
This principle of warfare simply states that to better defeat an enemy, you must have 3times his strength.
This translate in business as, to be successful in any business venture your capital venture in the initial stage should be divided into 3folds, that in the invent the business you incur any set back you have extra two times capital capacity to revamp the business.
The principle will help inform you on what venture you can adequately take and successfully triumph, and should intricate every decision you take in all aspects of the business process and sector, being your cost approach in all expense related issues.
So as a business owner ask yourself do you have 1: 3 ratio funds capacity for the marketing budget? if not rescind the decision and go in for a marketing budget that if the principle is applied it can be executed accordingly.
At all times in your decision making regarding an expense, ensure this principle is intricated.