Blog post 8

Blog post 8

From start to close

I do not have exact statistics but it is very hard to start a successful new business. On average about 30% of business’ fail with in their first two years.

About another 20% will fold in the three years following that.

Only about 1 out of 10 companies will last for an extended, longer period of time.

I thought this was something important to talk about for a few reasons. One is that being an entrepreneur or a businessman or woman, you cannot be afraid of statistics.  There are going to be many statistics going the other way and that is okay. Also just because your business did not succeed does not particularly mean you lost money because often you will not loose money depending on the type of investment you made.

I wanted to write about this because starting my own company I realized it is hard to start a successful business, and I was scared of the stats. The thing I realized though is you have to just go for it and take risks. It took me a while to get to where I am today, but the company is doing well and we take risks hoping to grow exponentially.