Let’s face it, 20% of small businesses fail within their first year and a total of 65% fail within their first 5 years. The last person you should blame is yourself if your business fails excuse it should be thrown out the window when running a small business. There is a lot of adversity and stress you have to handle on a day to day basis but blaming your failure on a small business loan is not correct.
Number’s don’t lie so let’s put this in layman’s terms and make it short and sweet. It doesn’t matter what industry you are in or the product that you are selling either. To succeed just like the 75% who are deploying capital you must make back $.75-$1 back for every $.75-$1+ you borrow.
If you fail you to do that there is no excuse is. You took your shot and failed, re-evaluate, and came back next time but as mentioned in previous articles. The recipe for success is a lot of trial and error, a lot of adversity, and being able to push through that builds character and confidence that leads you to the next bridge you cross in life.