My brilliant friend & former co-worker, Lindsay of Goose Educational Media tweeted about an Inc.com article a little while ago and there was a pretty shocking statistic about small businesses:
Only 1 in 2 small businesses will survive more than five years.
1 in 2.
That is as bad as the divorce rate.
In the face of such odds, fortunately Guardian Life Small Business Research Institute has looked at small businesses and identified six traits of successful owners. Here is what they say are common qualities that may predict small business leaders who will beat the odds:
Ability to collaborate
If you were to rank yourself on each of those characteristics on a scale of 1 – 5 (1 being low and 5 being high), what is your total score out of 30?
I will be spending my next few posts on each of these areas because that statistic has really stuck with me – how many business owners put everything on the line and need to be better equipped to face the challenges ahead…
How will you beat the odds?