Secret to startup success: failure
For the past ten years, small businesses have been the stronghold of domestic job creation in the United States. Currently, there are more than 27 million small businesses in the U.S., but only one in ten small business startups will succeed. 80% of new businesses fail within the first three years, and the remaining businesses will be slashed in half by the five year mark. But there’s a silver lining in all this failure — entrepreneurs with multiple attempts at starting a business are the most likely to succeed. If at first you don’t succeed, try, try again.