Why Most New Businesses Fail (Especially Online)
The other day I heard a stat about online businesses that completely stopped me in my tracks…
Did you know that 50% of businesses fail within the first year and 80% fail within the first five years?
I didn’t and honestly, it fired me up inside.
Here I am, almost at the five year mark and to be completely transparent with you…. I’m making more money than I ever thought was possible for someone to make in a month.
And no, I’m not saying that to #humblebrag. I’m saying it because I never thought a life like this would be possible for someone like myself.
When I started my business, back in 2012, I had no business skills, an unrelated degree, was working up to 80 hours a week between four jobs, needed anxiety medication to get through the day and was in $120k of debt between student loans and consumer debt….
I also had a desire for something more in life. The freedom of CHOICE.
A few years ago, I made the decision to go after that desire with everything I had.
So… what has almost brought me to that five year mark as a profitable online business, that I have ZERO doubt is causing others to be an “online business statistic”?
For the past 4.5 years, I refused to use the phrase “if only” in my business.
“ If only I had the time, I could get more done. ”
“ If only XYZ wasn’t happening in my life, I would be able to focus on this. ”
“ If only we didn’t have debt, I would hire a coach to get me where I need to be.”
“ If only I had the support at home, I would be able to build my dream.”
“ If only I wasn’t working full-time, I could move forward with this for REAL. ”
“ If only I was making more money, I would hire the help I need. ”
“ If only the time was right, I could make this happen.”
That’s it. The tipping point between the 20% making it to year five (and beyond) and those who are not… one phrase.
The “if only” game is costing 80% of people the life they deserve.
I want you to be the 20%.
I want to be able to celebrate with you so that TOGETHER we can create the businesses lives we were meant for.
It’s time to change the statistic… but you’ll have to start today.
Are you up for it?