The world of business is cruel. A small mistake could have serious consequences, forcing you to close your shop and seek your fortune elsewhere. In the US alone, 20% of startups fail to survive the first two years; after 5 years only 45% of them remain afloat.

If you're planning on starting your business, these statistics may not look too optimistic. It doesn't mean that you have to fail, though. It's up to you to show that statistics are just numbers and that key to succeeding is your perseverance and a revolutionary idea.

But before you become one of the promising business stars, there are some universal rules you need to know. In the article below, you'll find essential things if you want your company to succeed. Implementing them is the first step you need to make to survive in the business jungle.

Create a Plan

Your business idea may be fantastic and promising, but you won't be able to put it into practice effectively without an efficient plan. Still, many startups tend to forget about it, believing that they can take the world by storm without careful planning. Unfortunately, in today's climate, it's impossible.

To create an efficient business plan, you need to take many things into account. Set yourself realistic goals, build a clear vision of how you want to develop your company, and know your potential customers.

Moreover, in addition to your plan, you also need to do thorough market research. Doing that will allow you to calculate whether your objectives are possible to fulfill; you’ll also learn how to proceed with your plan.

Don't Lose Control

The more your enterprise grows, the harder it will become to manage it. Not losing control won't be easy, but it's crucial for your business’ success. The first thing you need to do is create a database where you're going to store all your documents, like payment authorization forms, customer data, etc.

Secondly, you need to learn how to delegate. If you have employees you know you can trust, don't be afraid to give them more responsibilities. Doing that will take some burden off your shoulders, allowing you to focus on more critical aspects of running a company.

Understand Your Consumer's Needs

The first rule every business owner needs to learn is: every company's most valuable asset is a consumer. If you fail to understand your clients' needs, you have no chance of surviving, not to mention joining the list of successful companies.

To ensure that, you need to regularly perform market surveys to determine when, why, and how your customers buy your products or services. Only then you'll be able to see how to optimize your product to ensure that people are going to buy it.

What's more, understanding your consumers will help you prepare a better marketing strategy. Regular surveys will also allow you to react much quicker if anything happens, which is crucial if you want your company to survive.

Keep up With the Trends

And speaking of fast reactions, the next crucial rule you have to follow is keeping up with trends. And when it comes to the world of business, if you snooze, you lose. History knows many examples of companies that failed to adapt, for example, Yahoo, Blackberry, Nokia, or MySpace.

Keep in mind that today's world is changing incredibly fast, and each year new trends come and go. You should always keep your hand on the pulse to prevent your company from falling behind. You also need to learn how you can distinguish short-term trends from the ones that will remain relevant for longer.

Once again, the best way to achieve that is by performing regular market surveys to determine what your customers think and how you can use this information to your advantage.

Conclusion

Managing a successful business is every entrepreneur's dream. Unfortunately, before you catch some wind into your sails, you'll have to deal with many storms. The first thing you should know is that your determination and ideas may not be enough to succeed.

You also need to know how to prepare. Only by keeping your head cool you'll be able to survive in the cruel world of business. That's why, before you even consider starting your enterprise, create a plan, and do your research to determine whether there's any chance of survival.

If the odds are in your favor, you can begin your adventure. But even then, you can't lose your head. Maintain control as your company grows, understand your consumers, and keep up with the trends.

Stick to these simple rules, combine them with your fantastic idea and determination. If you manage to do that, your small business will blossom into something spectacular.