You did it! You took the leap! You started the business. There is a wonderful but often all-too-short honeymoon stage, and then you quickly come face-to-face with a very personal understanding of why over 80% of businesses never get through Early Struggle. It’s hard. I mean, it’s really hard.
The start of any business is an existential fight for survival. It’s like a ship setting off for its maiden voyage in the midst of a hurricane.
Almost everything you do you’re doing for the first time. The learning curve is steep, but you have worked through it, and fast. You have to get through the breakers and steer clear of the rocks and underwater reefs, all while the environment itself is trying to take your ship down and bring your adventure to an early and tragic end.
In many ways, Early Struggle is the very hardest part of the entire lifecycle. More businesses die in Early Struggle than every other stage combined.
While there are many reasons why businesses fail. There is only one reason that is responsible for every lost business in Early Struggle:
The business failed to find a profitable, sustainable market before it ran out of cash.
This is true for nonprofits as well. It’s even true for intrapreneurial startups and new product lines within existing companies. Every single one of them failed to find their profitable, sustainable market, then ran out of cash and closed their doors.
In this video series, I’m going to introduce you to the best strategy for getting your new business off the ground. I’m also going to highlight the common traps that can stop your progress and shutter your business.
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#business #businessstrategy #businesstips #businessadvice #businessdevelopment #businessgoals #businessgrowth #businessgrowthstrategy #businessgrowthexpert #businessgrowthtips #businessowner #businessowners #entrepreneur #entrepreneur101 #entrepreneurs #entrepreneurship #smallbusiness #smallbusinesstips #smallbusinessowners #focus #focused #startup #startupbusiness #startuptips
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