Is Your Business Built To Last?
Three qualities that successful businesses share
Every entrepreneur or business owner wants their company to withstand the test of time. But when you consider the fact that the average lifespan of companies listed on the S&P500 has decreased from 60 years in 1958 to 18 years today, you have wonder — what the hell is going on?
The internet is awash with statistics on business failure, with figures ranging anywhere between 30% and 60% being touted for the failure of a business within the first five years. You often hear the standard for having succeeded as a small-business owner is three years, as it is within these initial years that businesses most often fail. Is anybody truly surprised that companies aren’t lasting as long as they once were, now that three years is the benchmark for success?
When Jobs and Wozniak built the Apple I in Steve’s parent's garage in 1975, do you think they envisioned they would have “made it” in three years? No? Why not?
Because they wanted to change the world.
And while we won’t all go on to co-found trillion-dollar companies (yes, trillion), that doesn’t mean you shouldn’t pursue your dreams with the same level of passion that they did.
