Social networking has impacted the way businesses are done. Many young entrepreneurs have made fortunes just because they know how to leverage social media for business. Unfortunately, so many others struggle with it. Many entrepreneurs, though they are good with traditionally well known methods of marketing, are not able to adapt to social media correctly and end up losing out so much potential every day to their competitors.
Sometimes it's lack of knowledge. But, in most cases, it's lack of willingness to learn and change. I recently had a conversation with an entrepreneur struggling to just keep the shop open because of the marketing challenges. While talking about internet marketing and leveraging social media for her business, she informed me that she is already doing it and nothing is working.