Quote:
Originally Posted by CeciL  I live off mine also...  See my sig link... Here is the secret to making money...
It takes something called EFFORT. ...
1 in 10 actually stick with and are making it where they want to be. 1 in 10 seems to be the general success ratio in the financial world... For example 1 in 10 businesses fail... Time to pull up those sleeves and get your hands dirty! |
Actually long term success rates in Business are somewhat dismal. For example,
tracked rates in the restaurant business:
In a study in Columbus, Ohio, Professor H.G. Parsa of Ohio State University, tracked new restaurants from 1996-1999. In the first year, 26% closed. Another 19% closed the second year, and 14% the third. Collectively, 59% of new restaurants closed those three years. By the way, the "failure" rate wasn't very different between franchised restaurants – 57% — and independent restaurants – 61%.
But then it goes on to say:
• First year: 85%
• Second: 70%
• Third: 62%
• Fourth: 55%
• Fifth: 50%
• Sixth: 47%
• Seventh: 44%
• Eighth: 41%
• Ninth: 38%
• Tenth: 35%
"Once you've hit five years, your odds of survival go way up," Birch said. "Only two to three percent of businesses older than five shut down each year.
Also,
worth reading.
I will post more on my blog about this, I think. But my wife needs her pc back!
Kenneth