In this age of social media, entrepreneurship is at an all-time high. The time for creating a start-up company has never been more optimal, thanks to recent interest in technology and innovation. Profit valuations of successful start-ups have also skyrocketed in response to a rise in venture capital investors. Creating a start-up also celebrates low-cost entry, making it easier than ever to jump in and play a hand at the game of business. As many as 40 start-ups in 2013 were valued at $1 billion or more, according to a NY Times article.

But as effortless as it is to create a start-up business, the real challenge lies in evolving it. Only 1 out of every 10 start-up companies make it to the 5th year. What are the barriers that prevent the suc...