I came across some staggering business statistics on the site of Jay Conrad Levinson, the author of the “Guerrilla Marketing” series of books:
A staggering 85% of small businesses destined for failure bite the bullet or go bankrupt during their first five years. The remaining businesses that hang in there only break even: Only 4% of new businesses make a sizeable profit after 5 years.
Some years, there are more business closures than business openings.
Lack of marketing savvy is one of the main reasons this happens.
Take any 100 men or women at the start of their working careers and follow them for 40 years till they reach retirement age. Here’s what the Social Security Administration says you’ll find:
Being clueless about marketing is one of the primary causes of these depressing numbers.Print This Post