Did you know that 20% of businesses don’t make it in their first year? Only 50% of businesses survive to see their fifth year of operations, and less than a third will make it for ten years or more!
Not very inspiring, I know. But hang with me here.
It seems prudent to examine what happens to the businesses that don’t make it, right? There are a number of speculations as to why a business doesn’t survive.
But hear me: almost all of the reasons given for a business “failing” can be overcome. In nearly every case, a business could be saved! There is always time to pivot someone’s perspective, make changes, and move forward.
But at some point, they quit.
So, consider this. A better question may be: what do the businesses do that do survive?
While they may have a bit more business savvy or skill, ultimately they don’t fail for one reason: they simply don’t quit.
This is the wise but simple advice that came from Erin Smith, whom I interviewed on my latest podcast. She started her professional life in a “safe job” that she did “for the money,” she eventually stepped into the role of entrepreneur and started her own business pursuing her passions. Her parting advice for those in business and sales?
Just don’t quit. It really is that simple.
Simply by choosing not to give up, you’re in the minority!
Many of you may have heard me mention my accountability partner. You see, whenever I am facing a challenge that brings me to the end of my rope as I run my business, I call her, declaring once again that I’ve had it. And I tell her I’m going to quit. As my accountability partner, she has a peculiar way of bringing me around again.
She agrees with me.
Then, she asks me what I am going to do next. And I realize once again that I’m already doing exactly what I love to do. I come around again and put one foot in front of the other.
That’s what I need to keep moving forward. It’s what I need to keep me from quitting.
Norman Vincent Peale once wrote “It’s always too early to quit.”
So what do you need to do to keep going?
