Your Business Faces a Strong Risk of Failure Depending on the country you’re in, and the report you read, young companies fail all the time. There’s a bit of debate on whether the rate is 50%, 66%, 75% or 80%. But you know what’s not up for debate? What’s not up for debate is that a majority of new companies end up dying within a couple years. In the US and across the globe, we’re seeing a rise in entrepreneurial endeavors. Whether it’s a three-person product company, a single-person service company, or some hybrid, people are quitting large corporations in droves and doing their own thing. The problem, of course, is that if our data tells us that most of these efforts will result in failure, shouldn’t we do more to prevent it? The Two Problems We Find Regarding Business Failure And that’s where things get tricky. Because if you read enough articles, you’ll discover two things to be true: 1. The rate of failure changes all the time, depending on which article you’re reading. 2. The reasons for failure make great listicle articles. You know, “5 reasons why companies fail.” In fact, a quick survey of articles and I found this: The list goes on… (See what I mean about the two things holding
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