From Inc.: Why 96 Percent of Businesses Fail Within 10 Years

From Inc.: Why 96 Percent of Businesses Fail Within 10 Years

I can remember the first time I heard that 96% of businesses fail in ten years. I was shocked and upset. How can this be? Most people are smart and if they have taken the risk to go out on their own and start their own company, they are willing to take calculated risks. Small businesses are part of the American Dream — it’s how entrepreneurs control their own destiny and make the world a better place.

But what’s happening if only 4 out of 100 businesses survive past the 10 year mark? If your company is a decade or more old, then congratulations, you’re one of the 4%! If your business is less than 10 years old, then I would like to share one of the most important lessons I learned from Keith Cunningham (otherwise known as “Rich Dad” from Robert Kiyosaki’s book “Rich Dad, Poor Dad”) at the Tony Robbins Business Mastery event. It could be the defining difference between going out of business or accomplishing the very goals you set out to achieve.

Source: Inc.com Click here to read the entire article.