We’ve heard it time and time again – 90% of startups fail in the first five years of operating. Bad financial decisions, a poorly designed business model, a wrong product for the market, financial mismanagement, and bad timing are just some of the most commonly cited reasons why some businesses never manage to pass the five-year threshold.
Innovative and forward-thinking companies are successful because they have new, exciting, and useful products or services before others and consumers take notice of companies regularly producing the next big thing. These companies are more effective and they can grow more rapidly because their company culture encourages innovation among their employees. A company of “intrapreneurs” can quickly become a successful and noteworthy company.