The Secret to Long-Term Business Success? Sometimes It’s Throwing Your Business Plan Away

Photo caption: Embracing the possibility of change on Day 1 is key to making sure that your new business stands the test of time. Photo credit: Getty Images / miodrag ignjatovic. Article by Anna Braz. CO by US Chamber of Commerce – August 8, 2023.

According to data from the U.S. Bureau of Labor and Statistics, only 25% of new businesses stick around for 15+ years. This stat has been true for 30 years and can teach current and aspiring entrepreneurs one very important lesson: founding conditions, rather than market changes, play a crucial role in long-term success. […]

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