Little Survival Details A Startup Must Not Overlook.
"Data from the Bureau of Labor Statistics (BLS) shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. These statistics haven't changed much over time, and have been fairly consistent since the 1990s.Though the odds are better than the commonly held belief, there are still many businesses that are closing down every year in the United States." For a startup to grow a going concern that outlives the founder, attention must be paid to little details, after all God is in the details. What are these details? They are! 1. Ideas, 2. Cash flow, 3.Salesmanship.. What have successful entrepreneurs said about ideas? 1. Capital isn’t that important in business. Experience isn’t that important. You can get both of these things. What is important is ideas. – Harvey S. Firestone. 2. Get a good idea and stay with it. Dog it,...