Which small businesses are the most tried? Which are the most failed? An infographic from Top Business Degrees that I stumbled on thanks to David Wallace of Small Business Trends provides all of the stats for you to review.
As you read through the infographic, you might feel discouraged when you see stats like 95% of small businesses fail within the first five years and only 9% of small businesses with fewer than 20 employees survive beyond 10 years. Don’t give up your dreams of self-employment. Instead, keep reading and scroll down to the helpful tips to succeed as a small business owner found at the bottom of the infographic.
I particularly like the advice to start small and keep it simple and focused. Don’t be afraid to strategize for the long-term, and that means thinking of your bigger goals. However, working toward those bigger goals by taking small steps is a safer path to success than diving in without first developing a strong foundation to build on.
Susan Gunelius
Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 30-year veteran of the marketing field and has authored a dozen books about marketing, branding, and social media, including the highly popular Ultimate Guide to Email Marketing, 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing and is a Certified Professional Career Coach (CPCC).
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