Comment by bpt3
1 day ago
Fellow small business owner here. Just as a reminder, discussing any successful (where successful is defined as not failed) business is a lesson in survivorship bias.
Most businesses of all sizes, shapes, and forms fail within 10 years.
> Most businesses of all sizes, shapes, and forms fail within 10 years.
I hear this all the time with variations to the number of years, which makes me suspect it isn’t true.
What part do you suspect isn’t true?
That a majority of businesses fail over a given duration of time. It’s probably true on a long-enough timescale, but the idea that the majority of businesses fail within one year or ten just seems completely dubious. How is a business defined? How is failure defined?
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