|What Other Factors Are There?
So youíre doing it for the right reasons and you have got the key talents and skills in place; are you going to have a successful business?
Over 350,000 businesses start up each year thinking they have got it right. The statistics show that at least 50% of these go out of business within 3 years and the large majority within 5 years, this suggests they didnít have it right. Thatís a lot of people who didnít know that they didnít know about the key to a successful business.
Thatís an awful lot of hopes, dreams and bank accounts shattered!
So, apart from the factors outlined above, what makes the surviving businesses successful?
Although there are currently no statistics to prove this, we believe that those businesses that are still operating with a future after 5 years can largely be grouped in to one of four categories or Business Talents
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