Success in business seems to be a very well-kept secret, at least to most people. Why else would 80% of all new business startups fail in the first three to five years? Recently I was working on our soon-to-be-published anthology “Real Hope for the Unemployed.” In the final chapter I was making the point that the only real hope for America’s unemployment problem is business ownership.
That is when I discovered the failure rate for business startups has remained virtually unchanged over the past twenty-five years. My immediate question was why. First: Why do businesses fail? And second: Why has this rate remained the same for a quarter of a century?
To answer the first question I found a report by Bradley University of Tennessee Research that said 25% of new businesses fail in the first year and that the top reasons were all largely due to the incompetence of the owner. Things like – emotional pricing, living too high … Continue reading →
Build a better life by taking care of business. Many employees are in business without realizing it. Learn the skills you need to make it grow
Are you operating a business without knowing it? Dumb question right? If you had a business, of course you would know about it. Maybe not – let’s take a hair stylist as an example. A hair stylist can make more money with a faithful following of regular customers. A successful hairstylist can use their loyal base of customers to launch their own business startup.
If you have no plans to start your own business, an “owner’s mentality” can assure that you become an indispensable employee. As an indispensable employee, you do not have to worry about getting laid off as long as the company you work for continues with business as usual. It is the “owner’s mentality” that causes you to stick with it until the job is done. A … Continue reading →