Why Most Businesses Fail
March 2 by Craig Childs 56 Shares | Uncategorized, Work
Starting a business is no easy task. Outside of the actual factors associated with running your specific business, you have the actual lifeblood of the company, expenses and profits, to worry about.
Finding the balance is difficult, especially starting out. MarkTAW.com have put together a theoretical business model that makes it pretty clear how uphill the battle actually is.
It’s common lore that 9 out of 10 new businesses fail each year. I suspect the number is much higher than that, those stats are probably gathered from tax records, and most new businesses never reach the point where people claim them on their taxes. The odds are probably closer to a thousand to one. There’s good reason for this – starting a new business is much harder, more time consuming and expensive than most people think. We pin our hopes and dreams on our ability to beat the odds, and we mistakenly believe that starting our own business will be easier or more enjoyable than working for someone else. For 999 out of 1,000 people, this simply isn’t true.
There’s some help in there, I promise. It doesn’t hurt to realize how behind you are from the get-go, though.
Why Most Businesses Fail (A Theoretical Model) – [MarkTAW]