The decision to become an entrepreneur is an act of courage. It is estimated that 50-70 percent of entrepreneurial start-ups fail in the first five years. Ninety percent of all businesses do not survive beyond the 10th year; only three out of 100 companies are still prosperous after 40 years.
Why is the failure rate so high for entrepreneurs? Adrian Slywotski, a Harvard Business School professor and author argues that most businesses are not set up to be successful. The key to success in business is to create a profitable enterprise. Your challenge is to find the profit formula for your business.
Often, success in business is associated with growth. But, if you grow too fast, that can lead to organizational death. Finding the right pattern of growth is essential for business and personal growth.