|What About the Others Who've Made it Beyond 3 Years
There are businesses that survive the first 3 years and that have survived beyond 5 years largely down to the tenacity, charm or cash funds of the owner (we can’t call them entrepreneurs because if they were they wouldn’t be surviving by these attributes). They are likely to be still working all the hours of the day, probably rarely taking a holiday and just making enough to survive, thankfully they haven’t had a serious illness yet!
They are likely to be surviving because of access to cash funds, be it via personal savings, loans from friends, family or banks, or overdraft or fighting off creditors. Without this they would have had to have given up ages ago, but how long can these funds support an under-performing business?
All is not lost for these business owners, it is possible to turn things around and bring about true business success. Let’s face it, there is obviously a market for their ‘offering’, they have also got a reputation that is appreciated by their customers. Therefore the business has strengths which can be developed and will reap rewards for the owner!
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