Start up business realities

While startup life seems glamorous at best when it comes to dizzying valuations, the truth of the matter remains that 70% of all businesses (with employees) fail within 10 years. Business failure is a harsh reality. While 80% will make it past that first-year mark, only about two-thirds of all businesses with employees are able to survive their second year. The fifth year? Just half. Ten years out? Just 30%. 

There are some specific reasons why these businesses are failing. 

• You won't fail unless you entirely give up. 
• If you don't put your customers first, the potential for failure skyrockets.
• Regardless of your situation, find a good mentor who can help you navigate the stormy waters of any business in the current climate.
• Focus on the long term. Do your best today.
• Successful businesses deliver the most value. Find a way that you can under-promise but over-deliver. Always over-deliver. No matter what the situation. If you're looking for a fast buck or to get rich quick, you'll quickly find yourself at a dead end. 
• If you can't connect with your target audience, your business will fail.
• The truth is that it's hard to sell anything to straight cold traffic.
• Businesses that lack authenticity and transparency will fail. 
• Staying afloat is exponentially harder when competition is fierce.
• It's easy to spend when the coffers are full. When the expenses spiral out of control, or a founder uses much of the company's money for personal or frivolous expenses, it's impossible for the business to survive.
• When problems do arise navigating those murky waters becomes an impossible task for newcomers without real business world experience. Businesses need to build up their board of seasoned advisers, and founders need to find trusted mentors, if they're serious about longevity.
• Your employee tribe and culture is crucial for long-term success.