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<strong>The old statistic from the small business association has been updated!  In case you didn’t know, the old statistic published by the SBA confirmed that half of all new businesses fail in the first 2 years of business, and 95% of all new businesses fail within 5 years. Ninety Five Percent! </strong>

<strong>Fast forward to 2011 and the SBA has changed their tune. They now show that “two thirds of new employer businesses survive at least two years, and 44% make it at least 4 years”!  To put it simply, new employer businesses have a 50/50 chance of surviving for 5 years or more. </strong>

<strong>While still risky and not for the “faint of heart”, starting a new business today has promise, and as long as the entrepreneur avoids certain key pitfalls, they have a better chance to survive and to thrive. </strong>

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<strong>Here are 6 important tips to keep the entrepreneur in the game:</strong>

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	<li><strong>The product or service must fill a very significant void in the marketplace – (There must be a need for this product or service)</strong></li>
	<li><strong>Attitude and fortitude! Attitude is where it starts; having the attitude with vision and passion is key to pushing forward when challenges arise. </strong><strong>Lack of Planning – No strategy in place, no website, no sales process – no forecasting tools, or measurement tools. </strong></li>
	<li><strong>A well-rounded marketing plan – At least 5 different areas of marketing vehicles with a built-in system to measure accuracy. </strong></li>
	<li><strong>Customer Centric Culture – Every decision made is based on “How will this enhance the customers experience?”</strong></li>
	<li><strong>Sales Conversion strategy – This is what every entrepreneur must be consumed with. How may “sales conversations” can I have today.</strong></li>
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