Starting a business is an exciting adventure, but success requires careful planning. Without this, your business may just become a part of the new business failure statistics. The alarming numbers are proof. Together, we'll explore key indicators of business launch readiness. 

I’m Suzette Cotto, and I am an entrepreneur! This isn’t a 12-step program, but it could be! Welcome to the world of small business ownership.  

The Steps

According to the Bureau of Labor Statistics, approximately 20% of small businesses fail within their first year. The failure rate increases to 30% by the end of the second year, 50% by the fifth year, and 70% by the tenth year. Yikes. 

I compare a business launch with the analogy of a rocket launch because the complexities are there to master. When the countdown begins, disregarded details may result in disaster. Successful rocket launches account for all possible failure scenarios, and so should new business owners. 

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