Preparing For Financial Failure

It’s no secret that the odds of startup failure are high. According to a report by CB Insights, 90% of startups fail within the first 18 months and 97% fail within five years. When you start running a company, it’s easy to feel like you’re invincible, but the reality is that there are many risks associated with starting a business and even more ways for things to go wrong. It can be difficult to predict how those problems might arise or how they will affect your business – which is why it’s important to plan ahead when it comes to protecting your finances:

Know your success rate.

Before you start your business, it’s important to know your failure rate. You might be surprised at how high it is.

A study by Portland State University found that only 2% of tech startups make it past the five year mark and only … More >>>