KRS 786: Why Businesses Fail After Initial Success
The Kelly Roach Show
Kelly Roach
4.9 • 965 Ratings
🗓️ 7 March 2022
⏱️ 13 minutes
🧾️ Download transcript
Summary
80% of businesses fail in the first 5 years - but the truth is, a large amount businesses that are successful in those first few years still end up failing in years 5-10.
In today's episode we're going to talk about why that is, and how you can avoid becoming part of the statistic.
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Transcript
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| 0:00.0 | Welcome to the Kelly Roach Show, the place for no fluff easy to implement 20-minute or |
| 0:08.9 | less business and leadership lessons to help you build a sustainable business that scales. |
| 0:15.6 | Lead with integrity and create a lasting legacy. |
| 0:19.6 | I'm Kelly Roach, former NFL cheerleader and Fortune 500 executive turned 8 figure entrepreneur. |
| 0:26.2 | Let's get started. |
| 0:29.4 | Those business owners think that if they can just make it to that initial goal post of |
| 0:35.4 | success profit, a good launch, a few clients, dollars in the bank account for the very first |
| 0:41.2 | time that they've made it and that they're going to be able to create success ongoing. |
| 0:47.6 | But if you look statistically at business failure, it's not just that 80% of businesses |
| 0:52.9 | fail in the first five years, it's even businesses that make it to a level of success in |
| 0:58.8 | years one through five, a significant majority of those businesses fail between years five |
| 1:04.6 | and ten. |
| 1:05.6 | Now, in today's show, I want to explore why this happens and how to make sure that this |
| 1:10.0 | doesn't happen to you, especially because we are up against some turbulence that is coming |
| 1:15.6 | our way and it's more important than ever that we are ready and armed as leaders to take |
| 1:21.7 | our companies to success regardless of circumstances. |
| 1:25.6 | So that said, let's dig in and talk about how to not be a statistic. |
| 1:31.6 | So here's the bottom line. |
| 1:33.8 | When we begin to have success in our businesses, many times we make the mistake of assuming |
| 1:39.6 | that success be get success, meaning that success is a straight line, meaning that because |
| 1:46.2 | we're having success, that that success is going to continue. |
| 1:50.2 | That is absolutely not the case. |
... |
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