![Learn What Tea, Beer And Dog Food Founders All Leveraged 2 - Travel Startups Group Of Friends sampling craft beer.](https://traveltrade.xyz/wp-content/uploads/2021/02/Learn-What-Tea-Beer-And-Dog-Food-Founders-All-Leveraged.jpg)
Group Of Friends sampling craft beer.
It’s easy to come up with a startup idea. It’s really hard to then build a company that will achieve even moderate success. In 2019, the failure rate for startup businesses was around 90% according to Investopedia. So how do you hedge your bet and take out some of the unknowns that most startups have and build a successful company? You focus on industries that have a Compound Annual Growth Rate (CAGR) of more than 4%. Sounds fairly simple. Why is CAGR important? Because it means people are steadily buying the product or service on a consistent basis over time and pandemics or recessions don’t stop the growth. That’s amazing. You want to start a company with a higher…