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Small Business Quick Quiz
The #1 killer of small business is IGNORANCE!
“It’s not what you don’t know that will sink you. It’s what you don’t know that you don’t know!”Most small businesses fail (88%–90% within the first 10 years!) because the owners simply don’t know what they need to know to run their businesses. They may be the best at what they do IN their businesses — but they have almost no idea how to work ON their businesses. They’re great employees, but lousy entrepreneurs!
Instead, they "manage" by one — or both — of the two prevailing small business management philosophies:
- Management by IMITATION (they do what everyone else does).
- Management by GUESSWORK. (Both are fatal!)
Simple logic should tell us that, if 88%–90% of small businesses fail, doing what everyone else does is virtually a GUARANTEED recipe for FAILURE… you'd stand a better chance doing the opposite of what everyone else does!
And management by guesswork is like playing “Reverse Russian Roulette” — with only one chamber of the gun empty! You may get lucky a few times, but the final outcome is utterly, depressingly predictable.
So we put this Quick Quiz together for you to see if YOU know what you need to know to survive and prosper in YOUR small business. And don’t forget… you either KNOW the right things to do (and the right reasons for doing them) or you DON’T!
There are 20 question in the Quick Quiz, covering basic business realities. You can try them in any order. You can jump to the correct answers by clicking the optional choices. You can then return to where you were or to the next question. Or try a few now and return from time to time.
Use these handy links to go to any question
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©1997 The Profit Clinic. All rights reserved. This page updated 21 November 2000.