It’s been a long-held belief that 50% of businesses fail in the first year and 95% fail within the first five years. However, according to recent statistics published by the Small Business Administration (SBA), seven out of ten new employer establishments survive at least two years, half at least five years, a third at least 10 years, and a quarter stay in business 15 years or more. While these latest statistics may pleasantly surprise you, it still holds true that a significant percentage of new businesses fail. And the reasons they do range from poor planning and insufficient capital to the wrong motivation. I just celebrated five years of being in business in probably some of the worst economic times since the great depression of 1929! I am in that 50% that make it to five-year mark! This is amazing to me but it is also the result of being committed to the fundamentals. When I voluntarily left my 20-plus-year career in Broadcast Radio sales and management in Miami/Ft Lauderdale, in August 2006, to figure out my ”next,” who could have ever imagine what I was diving into! Regardless, I climbed to the top of the diving board and did a swan dive into the unknown in February 2007 and launched my consulting and training business. My motivation: I wanted to help people and I wanted to do what I loved and what I was good at! I have been through many changes, challenges, and transitions... more than I have ever experienced in my entire life. I have reinvented and diversified my products, services and brand consistently to keep pace with a relentlessly changing business environment. And, I have had many moments where I woke up and said “WTF,” ... Work Through Fear and keep going. If you’re thinking about starting a business and are having difficulty overcoming the fear of career change or transition, check out Become Your Own Boss in 12 Months by one of my colleagues Melinda Emerson. It will help you focus on what is possible, if you are the right person for this job and a step by step guide! What we accomplish is a result of putting our intentions (what we want to happen) out there and then preparing yourself for things to happen. YOU get ready and stay ready. You make an "intentions plan" and prepare for things to happen.
- I wrote a book about career transition and told my story.
- I built a local and national niche and footprint through speaking and writing.
- I aligned myself with certain communities and people who I admired and respected.
- I put myself in the pulse of the business community by joining chambers and professional organizations.