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Top 3 Business Survival Techniques
Before I get into what my 3 business survival techniques are, I want you to understand something…
The truth is, the larger the data set, the more information there is. And unfortunately, in some cases, the numbers don’t paint a very pretty picture.
In fact, this picture could deter many budding entrepreneurs from even starting a business. But remember this: if you have the right tools, knowledge, and guidance, you can persevere.
Now let’s take a look at these numbers…
There are 31 million small businesses in the US.
25 million of those only have one employee. 5.3 million have 2-15 employees…
And only 700K+ businesses have more than 15 employees.
Out of all those businesses, ⅔ of them will FAIL within their first year of business due to:
What does this tell us? It tells us that growing, scaling, and succeeding in business is hard.
But not impossible.
The thing you need to remember here is that the 3 reasons why ⅔ businesses fail are really just excuses.
They’re excuses for someone not doing their homework, or not learning the skillset necessary to explain to people the value proposition they’re creating and having them exchange money with them for that value proposition.
Because the truth is, if you can’t do that as the owner, then you can’t bring other people around you to help you do the same thing. And you sure as hell won’t find any lenders.
These techniques are actually the 3 reasons why businesses fail within the first 1 to 5 years…
You want to ask yourself 3 very important questions:
It’s not easy to build, grow, scale, and exit a business.
But understanding WHY businesses fail and HOW you can use those statistics to ensure that you don’t make the same mistakes will be the catalyst for your continued success.
