if you were to start a business today, you have a:
20% chance of failing within the first 2 years;
45% chance of failing within the first 5 years,
65% chance of failing during the first 10 years.
843,320 businesses were started in 2021 in the US.
statistically 168,664 will close shop by the end of this year (2022)
inspiring prospects.
it’s very tempting to sit here and offer broad reasons as to why this happens:
poor management,
lack of financing,
bad karma…
ultimately, the most important thing to understand is this:
most people don’t plan to fail,
they just fail to plan.
(yes, even for bad karma)
you don’t have to be the CEO of doing things the hard way,
for every 3 out of 4 businesses that fail,
1 thrives survives for 14+ years.
find out what they are doing,
and do the same thing.
I’ll see you tomorrow.
today is day 238 of the year, there are 128 days remaining of 2022.
