Why being a business owner or entrepreneur often falls short of expectations
The U.S. Small Business Administration reports that close to 66% of small businesses will survive their first 2 years. What that means is that only about one-third of total businesses will fail during the first 2 years. For new startups, this figure can be even worse. Generally 60 to 70 percent fail within the first 18 months
In Australia, the statistics are just as humbling. The Australian Bureau of Statistics (ABS) reports that more than 60 % of small businesses will cease operations within the first 3 years of starting.
In 1995, Michael E. Gerber, the "World's #1 Small Business Guru - Inc. Magazine" wrote his best selling book, "the E-Myth Revisited" which dispels the myth of the entrepreneur around starting your own business. This is a must read for any small business owner or someone thinking of starting their own small business.
“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer” - Nolan Bushnel