An alarming statistic: 80% of new businesses in the U.S. don't make it past five years, and only a tiny percentage ever hit the million-dollar revenue mark. Why is that? Through their personal experiences and insights from the business world, Justin and Ethan explore what makes some businesses thrive while many others crash and burn.
What you'll learn in this episode:
- How to spot and steer clear of the common traps that cause businesses to fail.
- How to develop the kind of resilience and patience that every entrepreneur needs to succeed.
- How to adjust your expectations to the tough realities of growing a business.
- How to remain flexible and proactive when faced with new challenges and industry changes.
- How to make smart, strategic choices that can turn your business around and set it on the path to success.
Questions this episode answers:
- Why do so many new businesses fail within their first few years?
- How important are resilience and patience for an entrepreneur's success?
- How can entrepreneurs align their dreams of quick success with the real, often slow pace of business growth?
- What strategies can help entrepreneurs navigate through the constant challenges in the business world?
- How do personal decisions and life circumstances impact the success or failure of a business?
This episode cuts through the myths of entrepreneurship and offers a real, gritty look at what it takes to make it in the business world. It's a guide for anyone brave enough to start their own business journey.
