Coming up, we're going to dive into why 50% of new businesses fail in the first five years and then high inflation.

It's actually changing the way Americans are thinking

and acting about retirement will break it down next.

I'm here to help you win at work. My name's Ken. This is the Ken Coleman show. Let's dive in.

So 70% of Americans would like to be self-employed. But only 6% are. Fascinating stuff. This from the

U.S. Bureau of Labor Statistics, we've talked about this a lot and I like talking about it

because when you see a huge amount of people want something but very few actually get it.

This is a gap we need to look at. And so let's dive in here. So let's first look at why so many businesses fail. And again, we're going to come at this from the

solopreneur standpoint but it cuts across people that are saying okay maybe

I'm starting with two or three employees.

Maybe I've gone out and gotten a small business loan

and I've got enough, you know,

and this is happening, right?

So it doesn't always mean solopreneur.

But we're going to look at it from this standpoint because

there whether you're solopreneer or not

the entrepreneur who starts something

It's all on their shoulders. So why do 50% of new businesses, and these are small businesses, why do they

fail in the first five years? So we're going to break this down. Let's just kind of walk through briefly some of the big reasons and then we'll dive in a little deeper.

One would be pricing.

All right? They'll start something and it's either a product or service that's all it is.

There's no other ideas outside of a product or a service.

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