According to the Small Business Association, over 70% of new business survive the first two years. But only 50% can make it past 5 years. What can be done to make it beyond 5 years?
I don’t have the answers. No magic pill. But may I suggest a few things that might help?
1. Adapt to changing trends. (Technology, techniques, passions.)
2. Don’t be afraid to make mistakes. (Notice it’s plural.)
3. Know your customers. (Know their names, know what they buy, know what they do.)
Maybe, just maybe, you’ll be one of the 50% that makes it.
“The future is not an inheritance, it is an opportunity and an obligation.”
William Jefferson “Bill” Clinton, 42nd President of the United States (1993-2001)