Based upon the details of last few years, the Small Business Administration of the US government has released relevant data, which discloses a few interesting findings, such as –
a) Compared to earlier times, the newer entrepreneurial trends have stronger foundations
b) The small business trends are showing positive attitude towards sustenance
c) Positive contribution towards improving the overall employment rate
d) Significant contribution towards rising income source of proprietors
e) Lesser numbers of business bankruptcies
Despite these improvements, the government seems to be worried after witnessing much change in the overall scenario as the last 15 years of scene suggests that 80% of the individual business ventures survived only first two years and 25% of those operated for 15 years or more.
Exploring the Reasons of Failure:
As the signs of positive change in the scenario of entrepreneurial ventures are becoming prominent, this is the high time for every person with the ambition to understand the main reasons of failure and capitalize on the situation with proper preparation and initiative. Getting deeper to the layers, the scholars have found certain common factors that played the most important part behind failure of personal business ventures at a large scale, namely:
- Too much of preoccupation with survival and the motivation shifts grossly towards earning money
- Lack of IQ to conduct a business venture
- Inadequate focus to operations
- Inability to understand the mistakes and correct them at the earliest
- Inadequate business vision and insufficient managerial qualities
- Lack of capacity to consume pressure and deal with it
Why Online Business Degree?
While many would argue that developing the required set of qualities to overcome the reasons of failure mainly rests in practical knowledge, on the other hand, there is hardly any scope to deny that real life experience should be complemented perfectly with theoretical knowledge. During the moments of crisis, it is the theoretical knowledge that allows a person to capitalize upon available resources and get over the situation. Online business degrees may provide your entrepreneurial zeal with the perfect support.
All major business school of the United States are currently offering online degrees on business and management and the course structure curriculum is crafted in a manner that would serve the changing trends of modern business. If you have already figured out the business and the targeted market, the next task would be to figure out the most suitable course from an array of business degree programs online. While you continue with the course, valuable and relevant information you will receive in terms of understanding the needs for proper budgeting and forecasting, the keys of success in small business ventures and e-commerce field, figuring out the correct business plan and the operational issues that you need to take care of. An online business degree, if completed from a reputable education institution holds immense value in terms of understanding the modern trends and it would also allow you to adapt with the changing scenario. So, if you are still in a double mind about starting up with an online business program, shade off all your doubts today and start with the course of your choice.
For more information on pursuing a business degree online please click here!