It has been a while since the last post. That has been by choice. Over the past few months I have witnessed several of my entrepreneurial colleagues struggle to remain viable. I have had one business friend close her flower shop; even though the shop was turning a profit. What have I learned from my colleagues? Persistence matters!
Let me elaborate. If you review small business statistics posted by the Small Business Administration, they point out that most small businesses close within three years of their start date. The number one reason, under capitalization. Without capital, a small business seems like a grind, rather than a pleasure. Frankly, by SBA standards, I started my business under capitalized. But I knew going into this venture that it would be persistence (and shrewd money management) that would make or break my venture. Well, I am here advocating that persistence works!