William Jefferson "Bill" Clinton (b. 1946)
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)
David, the five year success figure sounds high to my ear.
I’m learning a ton owning a startup.
There is no theory in this realm.
It continues to be an eye opening experience…the best business education I’ve ever had in nearly 53 years.
PS. Thanks for posting everyday. I like the predictability.
It’s no fun clicking on a site and seeing nothing change. 🙂
But if your (our) goal isn’t impossible . . . will you (we) make it too easy and therefore not grow like you (we) should?
I can’t guarantee that I will be inspired by enough ideas to keep blogging every day. It is getting easier. But it’s still a challenge.
Thank you for being a loyal supporter!
David, you’re welcome…right back at cha.
You might guess that there are also blog experiments (some by accident, and some from the pressures of traveling) that I don’t publicly call out.
I’m convinced that writing everyday is easier than not.
Making time to do it isn’t always easier, but the thought-process and flow is sooo much easier when it’s everyday…without fail.