It takes an enormous about of hard work to bring a product or service to market, once you have done that, you are a business. After an enormous investment on your part Bloomberg reports that 8 of 10 businesses fail in the first 18 months. After you have invested a massive combination of time, energy and money, there is an 80% chance of failure in the first 18 months.
However many businesses fall into the same traps over and over again, if you learn where the pitfalls are and how to avoid them you dramatically increase your chances of success. And what is most important is that these patterns of failure have little to do with actual skill.
Most often it is a knowledge gap between starting a business and running a business. These are two different skill sets and you need both to be successful. The bottom line is, you don’t know what you don’t know and in business things you don’t know are the reason a business fails. We close the knowledge gap between starting a business and running one, for entrepreneurs and small business owners.