Predicting business challenges before they happen may save some of the 85% of new businesses that fail. To prepare for confrontations before they occur business owners need to identify them first. In my new book, A Dozen Avalanches Threaten Small Business, I not only describe twelve key business threats I experienced throughout my entrepreneurial career, I also give suggestions on how to survive them. Predicting them in advance doesn’t help; preparing for them before they happen will give business owners a greater chance of survival.
If your livelihood depends on the profitability of owning a successful business, this book is for you. A small business is defined as a privately held company with fewer than 500 employees. 30.2 million small businesses in the United States generate 45% of the country’s GDP and hire 48% of its employees. 6.5 million new small businesses start each year and 85% of them fail before their fifth year in business.
Why do so many people want to achieve the goal of owning their own business when the odds are so many will fail? My guess the answer is: The American Dream of becoming wealthy and be your own boss.
I succeeded with four unique businesses, but not without overcoming many business challenges. Throughout my 40 year entrepreneurial career, I face many confrontations. From embezzlement, legal misrepresentation to regulatory lawsuits, the list of difficulties I faced continued to grow. By living through many surprise avalanches, I beat the odds of small business failure four times.
Here is the list of challenges I faced throughout my tenure as a business owner. I call them “The Dozen Avalanches That Threaten Small Business.”
Small businesses are prime targets for more than one challenge. When advising owners, I always ask, ”What is the one avalanche that can bury you alive today?” From a list of examples, I always include, “What is the government shuts you down?” Most ignore this question and respond with, “That will never happen to me.”
Written by Darlene Ziebell
Copyright 2020-2021 Darlene M. Ziebell All Rights Reserved
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