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Why do most businesses fail today and you have not?

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Well, you're right that each year over the last few years,

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over a million new businesses have started up and 95% fail within five years.

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So only one in 20 make it.

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So there's several reasons they fail.

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Number one is the most important is that not everyone's meant to be self-employed.

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Two-thirds of Americans want to be self-employed,

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but half of them don't have the skill to do it.

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They don't have the risk-taking or they don't have the drive or they get up and go.

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There's no one to tell you what to do when you're self-employed.

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You have to do it all.

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And that brings up the ten most important two-letter words.

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If it is to be, it is up to me and most of them don't or many of them don't have that.

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In addition to that, they don't have stamina.

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They don't have perseverance.

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The number one most critical component of success is perseverance.

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And everyone, I've never met a person on earth that just skated with easy life.

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Everyone faces adversity.

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The winners get up like myself.

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They've got to kill me to stop me.

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I never stay down.

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If you knock me down, and I've been knocked down a zillion times,

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and God humbles me repeatedly, virtually daily or hourly,

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but I just get up and keep going.

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I'm unstoppable.

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So they don't have the perseverance.

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They don't have, and there's no class in the United States on how to be a CEO

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or on how to build a business from scratch.

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There's no class.

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So I've taken for, I've been self-employed for 42 years this week.

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In two days, it will be 42 years.

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And I learned from the school of hard knocks.

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You get knocked down.

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That's how you learn.

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There's no one that can teach you.

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An MBA doesn't teach you to be a business owner.

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It doesn't teach you how to get in the arena and fight.

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It just teaches you theories.

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So there's a lot of reasons why people fail, and most do.