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It's been said that half of all business fail in their first year.
Well, actually, doing a quick Google search, I've found that number ranging from 20-80%.
I don't really feel finding the exact number, so let's assume that starting a new business is incredibly risky (80% failure rate).
That means that if you were to start a new business each year, and most of them fail in the first year, within a decade you have a 90% chance of succeeding.
That's a 90% chance that you'll create a business that can outlast that crucial first year.
If it's there's a 50% chance of failure within the first year, that's a 99.9% chance of success.
If there's a 20% chance of failure, then you have 99.99998976% chance of success.
Would you call that risky?
Well, actually, doing a quick Google search, I've found that number ranging from 20-80%.
I don't really feel finding the exact number, so let's assume that starting a new business is incredibly risky (80% failure rate).
That means that if you were to start a new business each year, and most of them fail in the first year, within a decade you have a 90% chance of succeeding.
That's a 90% chance that you'll create a business that can outlast that crucial first year.
If it's there's a 50% chance of failure within the first year, that's a 99.9% chance of success.
If there's a 20% chance of failure, then you have 99.99998976% chance of success.
Would you call that risky?
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