Why do most businesses fail today and you have not?
Well, you're right that each year over the last few years,
over a million new businesses have started up and 95% fail within five years.
So only one in 20 make it.
So there's several reasons they fail.
Number one is the most important is that not everyone's meant to be self-employed.
Two-thirds of Americans want to be self-employed,
but half of them don't have the skill to do it.
They don't have the risk-taking or they don't have the drive or they get up and go.
There's no one to tell you what to do when you're self-employed.
You have to do it all.
And that brings up the ten most important two-letter words.
If it is to be, it is up to me and most of them don't or many of them don't have that.
In addition to that, they don't have stamina.
They don't have perseverance.
The number one most critical component of success is perseverance.
And everyone, I've never met a person on earth that just skated with easy life.
Everyone faces adversity.
The winners get up like myself.
They've got to kill me to stop me.
I never stay down.
If you knock me down, and I've been knocked down a zillion times,
and God humbles me repeatedly, virtually daily or hourly,
but I just get up and keep going.
I'm unstoppable.
So they don't have the perseverance.
They don't have, and there's no class in the United States on how to be a CEO
or on how to build a business from scratch.
There's no class.
So I've taken for, I've been self-employed for 42 years this week.
In two days, it will be 42 years.
And I learned from the school of hard knocks.
You get knocked down.
That's how you learn.
There's no one that can teach you.
An MBA doesn't teach you to be a business owner.
It doesn't teach you how to get in the arena and fight.
It just teaches you theories.
So there's a lot of reasons why people fail, and most do.