Would You Experience Startup Business Success?
I think we have all heard the loose statistics that only 25% of people experience Startup Business Success. At least that is the number that I have floating around in my head.
I have personal experience with this. About 4 years ago I, along with my partner, started a business called Web864. We put blood, sweat, and tears along with 80 hours a week into our startup. After 1 year, we needed funding. We found a buyer and sold our business for a nice profit, and were hired on as consultants. I feel like it was a success, however, without a buyer or Investor, who knows?
How would you define Startup Business Success?
Interesting Startup Business Facts:
- In 1999 50% of people experienced business startup success to only 25% in 2010
- Restaurants and Retail stores only succeed 40% of the time within the first 5 years.
- Your best chance for success statistically is in eCommerce.
- Residential Construction has a projected growth of 63% from 2012 to 2017
I hope you enjoy the Infographic: