Hello COREageous readers!
I apologize for my silence in the last couple of months ─ lots of end-of-summer visitors and a short vacation of my own. The good news is that despite my blogging lapse, there are many new subscribers and new CoreCoachees!
There’s more good news, as the photo indicates. I’ve been diligently working on my next book: The COREageous Entrepreneur: The Four Core Skills and Routines Every Founder Needs to Succeed. I’ve been working at it for a few years now, accumulating evidence and testing out my thesis.
My aim in writing this book (and this blog) is to reduce the startup failure rate, which, depending on the industry, is approximately 80%! With about 5 million founders starting up businesses in the U.S. every year. That failure rate is unacceptable and avoidable, based on my research and experience.
According to the U.S. Bureau of Labor Statistics:
- 20-50% of startups fail within the first year.
- 50-70% of startups fail by the fifth year.
- Only about 30% of startups succeed by the tenth year.
Certainly, there are external factors a founder cannot control: economic conditions, industry changes, funding availability and pandemics. Conversely, the internal factors that contribute to startup failure include: mental health conditions, ineffective communication skills, lack of focus, failure to execute, poor leadership and dysfunctional teams. These factors are within a founder’s control ─ they are skill-based.
There is preventative and practical work a founder can do to reduce the risk of failure in a smart, affordable and timely way. I’ll report more details (including a webinar!) as I take next steps towards publication.
I’m back to posting, so Stay COREageous and send your questions, comments and conundrums my way! Rebecca@MindfulCommunication.com. Visit my website at MindfulCommunication.com.