What are the odds? Should you listen? What thought should you be on the lookout for?
Some people love to throw flashing red light barriers outloud to anyone who dare to dream or share a plan while calling it "I'm just sharing the odds". Here are some of those odds they talk about.
7 out of 10 new businesses survive to their two year anniversary
Only 5 out of 10 new businesses survive to five years
Newer businesses that fail tend to due to cashflow
Only 45% of business owners monitor cashflow
Most family-owned businesses fail to adequately plan to transition or an exit from the business
Most family-owned businesses don't make families millionaires
Only 6% of businesses reach $1 Million (within a year) in sales
The average cost of a start-up is $18K dollars
Wow! Hearing those odds it's so easy to imagine the flashing red light people saying, "OMG! Your own business? Well, you'll likely fail. Most do. Do you know how much money you'll need? You don't have any money. You also don't have any time. Plus, you don't know anything about running a business. You think you can do that business forever? It's a fad! You're never gonna be a millionaire."
Flashing red light people think they are being helpful.
Flashing red light people have all sorts of opinions. Typically based on their own fears and self-imposed limitations.
I simply call their world view as "the glass is half empty and leaking."
And they are everywhere! Unfortunately, some have titles like career coach, counselor, teachers, professors, parents and friends.
Flashing red light people will not become wealthy due to their own efforts in business ownership. So why listen to them? All these well-intentioned people screaming at you are wrong. They want you to be afraid and not take a risk in the name of being safe, of keeping you safe.
Ask anyone who has worked for someone else how safe they feel after being laid off. Typically, not much.
Flashing red light people mean well. But they are not you. They do not understand your perspective. They likely don't know what research you've done, what steps you've taken to educate yourself, nor what resources you may be able to tap for money.
Instead of focusing on just the odds, consider this, the best predictor of your future success is past success. Have you made good decisions in the past? Have you acted on facts vs emotion? Have you been a good planner with organizational skills? Your past success in school, work, and life is of more value than knowing the odds alone.
What's your past success look like? Connect with me and let me know.
