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MAIDSTONE, ENGLAND, August 30, 2017 /24-7PressRelease/ -- In business, aspiring entrepreneurs will always have the odds stacked against them. But that does not mean that a person is unable to be smart and move the odds in their favour. It is about understanding where the risks lie and knowing what can be done to reduce them to the absolute minimum.
About Legends Incorporated: http://www.legendsincorporated.com/services/
Legends Incorporated provide some insights on start-ups and how to avoid becoming a statistic:
1: 50% of all new business fail within five years - however what is also interesting is the fact businesses that survive past the first two years are less likely to die in each subsequent year. So, while 25% of new business are not able to make it past the first year, only 10% of those making it past the fifth year will die in the subsequent year and only 6% in the tenth year. This is due to the establishment of a customer base, creating cash reserves and the constant iteration of the business model. Legends Incorporated believe that it is important to for firms to avoid going for broke in the earlier years and instead build a foundation so that greater risks can be taken in later years when a business is better established.
2: You are more likely to succeed if you've failed than if you've never tried - failure teaches valuable lessons about what one must not to do in business. Legends Incorporated explained that the chance of failure can be reduced in the first business attempt by employing an experienced advisor or mentor.
3: Scaling too fast, too soon is a massive reason why most new companies fail - the vision one has in their mind is always beyond the reality of the market of the current period. The more advisable thing to do is to set realistic expectations and be patient with the goals at hand.
4: Have two founders rather than one, this significantly increases the odds of success. Investment will be raised by up to 30% more; the customer base will grow three times as fast and the business will be less likely to scale too quickly - start ups will do better if there are two balanced, invested partners who rely on each other to share the burden, assess risks, collaborate creatively and motivate each other.
Legends Incorporated works with many aspiring entrepreneurs and have made it part of their mission to inspire excellence, commitment and passion by sharing their experiences and advice on success.
As part of this endeavour, Legends Incorporated recently shared Kevin Durant's inspiring speech with the young professionals. Durant spoke about how the 'odds were stacked against him and his family' and despite the fact, he would fail regularly, he was able to get up and persevere through the support and motivation provided by others around him. Eventually attaining a kind of rags to riches success story in the world of basketball. The emotional speech demonstrated to the individuals that support from others and one's own belief in their abilities can lead them to the kind of successes in life that they may have expected to be ever have been able to achieve.
Legends Incorporated is an outsourced direct sales and marketing agency that has expanded from Europe to the UK in 2016. Legends Incorporated set up infrastructure in London and are set to open their first outside division in Maidstone and have plans to open up more than 30 locations across the UK by the end of 2019.
For more information follow @LegendsIncorp_ on Twitter and 'like' us on Facebook.
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