Originally written by Tony Robinson on Small Business
For the last 34 years I have been starting and running my own businesses. Throughout this time I have been lucky to learn from hundreds of entrepreneurs, some famous, about what helps a new business to survive and thrive.
These tips are rarely included in books or talks on entrepreneurship because successful business owners just regard them as normal everyday activities. All successful entrepreneurs I have met work extremely hard and love what they do but their hard work is rarely glamorous, risk taking or disruptive.
Growth is not exponential, ups and downs are guaranteed, and businesses often scale up not by increased productivity but by the entrepreneur exploiting a new opportunity, contract or acquisition.
>See also: Small business marketing 101, all the latest tips in 2020
Maverick start-ups that are investor led most often do not survive the first three years whereas four out of five start-ups that obey my five rules will survive three years.
5 rules to survive your first 5 years
Bootstrap don’t borrow (until you’ve got customers)
Test trade first
Build multiple income streams
Ask for help from a business owner who understands your customers
Enjoy what you do
Professional speakers may not see these activities as exciting enough