There are over 25 million small businesses in the United States. These businesses collectively generate in excess of $5.5 trillion in sales and employ more than half of all private sector employees. Here are the statistics that we have all heard them many times. 80% of all new business start-ups are out of business within five years. And, 80% of the 20% that survived won't survive in another five years! This means that, on average, only 4% of small businesses starting this year will be around 10 years from now.
With that said entrepreneurism is alive, well and still kicking. We are a country of dreamers and risk finances, relationships, health and mental sanity to fulfill our dreams, in spite of the odds or challenges.
I never knew when I was first introduced to the 80/20 rules how many areas of life it impacted. See, I was a Marine and was introduced to the 10% rule way before acquiring knowledge of the 80/20 rule. Any good Marine will know what the 10% rule is!
