Taking the three studies into consideration, the business failure rate is closer to 33% within the first 4 years. Those stats do seem to change at every seminar I go to… Thanks for the atypical, not all doom and gloom, message about small business failure.
While statistics are extremely valuable, they are also notorious for being a means that people use to make false and misleading arguments.
Many like to argue this stat, but lets knock it off and talk about solutions for success and encouragement to continue the entrepreneurial spirit that built our country.
Occasionally I come across a bad magazine ad- one that I can't understand, despite gnawing at my top lip. If there’s no difference, why don’t we use achieve more to describe wealth, fame, status, credentials, etc.?
Legendary actress, Helen Hayes (1900-1993), said, “Always strive for achievement; forget about success.” But are there benefits to focusing more on the virtues of achievement? In his audiotape, “The Path to High Achievement,” Griessman identifies common characteristics of high achievement and how they’re in evidence long before anyone flourishes a checkered flag. Knowing your strengths and weaknesses may be the most important characteristic to seeking excellence.
Stick-to-itiveness is a real word and a handy noun coined in 1884, meaning dogged perseverance. No one likes failure, but high achievers recognize the value of setbacks and actually leverage them in the quest for excellence.
Check out my latest segment on The Small Business Advocate® Show about why achievement isn’t used to describe accomplishment more than success?
Recent ArticlesMirror of the Mind: Customer Service What can a company do, so that employees have a greater sense of customer care?
Zig Zieglar, international sales guru, once said that selling is the only activity you carry out in your business that results in profit. You can have an advantage over your competition by using techniques that focus on your customer’s needs, rather than trying to rack up your sales numbers. The studies agreed that at the 4 year mark, 50% of small businesses were still open and trading. While further examining the numbers, it became evident that a closed business did not necessarily mean a failed small business.

A total of 17% of businesses were found to have closed for non performance reasons such as choice, retirement or being bought.
As Lina put it, it’d be nice to hear some positive information regarding small businesses. When I closed my first small business after only two years, we had broken even and were in fact turning a small profit. It is really disappointing to hear all the time the scare tactics that a lot of business people and speakers use to suggest that most small businesses will fail. While seeking a source for the extremely high rate of startup businesses, I found your blog.
I was very interested in learning more about your study, especial in reference to the study (Global, U.S?). While writing a similar piece for real estate, I was surprised to see how many sites throw stats around with no basis whatsoever…good for you for doing the homework! Taking into account survivorship bias, modelling errors, human errors, etc, I do not believe these statistics add any values to entrepreneurs. If you’re refuting the statistics, you need some sort of factual rather than conceptual rebuttal. Even achievement, the noun cousin of achieve, isn’t as preferred when describing accomplishment. Today success is synonymous with celebrating at the finish line, holding the trophy or the check, while achievement has more of a work and effort connotation. History has shown that an army with a poor battle plan boldly executed can defeat a greater force tentatively deployed. Failure is the abiding harness mate of achievement, and high-achievers expect to always be hitched to both. I talk about the similarity and differences between success and achievement, and to recommend thinking more about the latter.
You know you and your product or service are an asset that will enhance their business operations, their productivity and their future well-being.
Customers are more comfortable with companies who maintain a high level of profoessionalism and project confidence in their product or service.
Business letters are easy, but they lack the warmth and enthusiasm of your personality, which is so important in selling.

If you use customer-focused selling techniques, those numbers will take care of themselves. Sometimes the quote may even add a time frame such as ‘9 out of 10 businesses fail in the first 2 years’.
It makes you wonder who’s behind these statistics – multinationals perhaps, scared of competition from the little man? I tend to believe that the people quoting these statistics do so to create a bit of a tense environment, so you’re more inclined to to listen to their advice. But we were taken over by Real World events – one partner moved overseas, and another had to stop work for medical reasons.
But don’t you have more memories of the journey of work and effort toward your goals than of the high fives at the end?
If you must write, write the same way you would speak, And perhaps even include a personal handwritten note. Three separate research groups investigated the claims and found them to be a gross exaggeration of fact. Having said that, working ON the business rather than IN it is a hard thing if you do not have the right staff for delegation. Once you dig a little deeper you find there’s a world of difference to the statistics. We also need to recognise that it’s essentially used to breed fear and therefore make people more susceptible to taking out the said product or service, least we become another statistic. This makes selling the most important part of your business, even though it may not be the easiest. Whatever the numbers, they always shine a bright light on the risk small business owner’s face.

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