50 percent of all Startups Fail within their first 5 Years

If you’re in business today, you are doing better than most! Celebrate.

Did you know that “roughly 50 percent of all startups fail within their first 5 years”?

From an article written by Leigh Buchanan for Inc.:

“Many others struggle to stay afloat, let alone grow.”  The September 2016 issue of Inc. includes interviews of the founders of 500 fastest-growing privately owned American companies. These companies are not much different than the 50 percent of those businesses that failed; “they didn’t die. But that doesn’t mean they didn’t almost die.”

“Doing a startup is an act of violence and chaos,” says Steve Blank, a serial founder, author, and professor of entrepreneurship at Stanford and other schools. “Near-death experiences – your co-founder quit; your biggest customer walked away; you lost your funding – that’s what happens before launch. You go through a series of trials, and from each one of them you come out stronger”.

Whether you’re launching a start up or have an established business, you face challenges daily.  It’s just part of “business”.

The entrepreneurs’ achievement “isn’t predicated on endurance alone. Yes, what didn’t kill these entrepreneurs made them stronger. But it also sharpened their minds as well as toughened their spirits.”

Do you have an example of a challenge you faced and are here to help others avoid failure and get through it too?    Please share with our network.

Join the Santa Barbara Business Network and connect with fellow business owners and entrepreneurs.  You’re never alone in your business journey.

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