Insight

     It is easy to start a business. The toughest part is staying in business. What is the difference between existence and going broke?

Survival Rates

     To begin, let's see the entry and exit ratios of new businesses. There are slight differences among the years the surveys were conducted, but roughly it looks like the following.

From these statistics, you can easily tell how difficult it is to stay in business is.

Keen Insight

     In order to survive, you must have keen insight into the nature of matters. As you run a business, you will encounter all sorts of problems every day. You cannot stay in business unless you properly and completely solve those problems. To do this, you need to identify the root causes of problems. If you fail to see the root cause and keep working on inappropriate solutions, sooner or later your business will fail.

Instinct

     There is no "how-to manual" that you can use to identify the root cause of a problem. The only thing you can do is follow your instinct. You cannot, unfortunately, tell whether your instinct is right or wrong simply by examining it; you can only know right or wrong after you had acted upon your instinct and reviewed the result. Therefore, you need to sharpen your instincts in order to make correct decisions more often. To do so, routinely broaden your knowledge and practice in thinking logically, and without emotions. Yes, you have to work on improving yourself. Get-rich-quicker and couch-potato types will not be in the 10%, 10 years from now.

© April, 2015