Over 50% of businesses fail each year.
8 out of 10 businesses fail within the first three years.
Approximately 2 million new businesses will be launched this year and by the fifth year more than 80 percent will belly up.
Businesses with fewer than 20 employees have only a 37% chance of surviving four years (of business) and only a 9% chance of surviving 10 years.
Restaurants only have a 20% chance of surviving 2 years.
This is the spirit of entrepreneurship, and this is the spirit of CEO Blog Nation.
More than any other time in the past few years it has become more and more important to return to the basics–the bread and butter of your business venture. Good accounting practices, excellence in product design and sales have become required ingredients in successful businesses, and these ingredients are arguably more important than any other time in history. While pessimists might have you believe that the sky is still falling, that is simply not the case for everyone. Entrepreneurs, while some fail, some do succeed. Those that do succeed get back to the basics. The same recipe of hard work and dedication that makes great athletes succeed and great musicians excel. It is no different in business. Throughout this month CEO Blog Nation will help entrepreneurs and business owners get “Back 2 the Basics”.
Here's some of what you can look forward to this month:
- Spotlight articles and stories on entrepreneurs and business owners that laid the foundation which eventually turned to successful businesses
- Support and advice on how to start and develop your business plan
- Tips on how to take care of your health so that you and your venture are healthy
It is the bricks of today laid carefully with hard work, dedication, patience and focus which can eventually grow to the castles of tomorrow.