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Did a good bit of research and would like to know if this info

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Did a good bit of research and would like to know if this info is sound.

>If you start a business, you will likely either fail, make mid 5-low 6 figs or get rich.

Is this true? Pic unrelated
>>
>>1718520

>If you start a business, you will likely achieve one outcome of the myriad possible outcomes associated with the endeavor.

This is truth.
>>
>>1718520
95% of business fail in the first 5 years
99% of business net there owners under 6 figures profit per year
>>
>>1718571
>less than 100k

That's better than no profit. Once you have a business market tapping is easier than starting from nothing.
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>>1718520
Wayne gretzky or whatever said

"You miss 100% of the shots you don't take."

So, if youre trying to gauge your success rate, nothing matters, besides you taking action now rather than later. Businesses fail for lack of constant action/wrong market.

As 4chan puts it, best business is in investing in kneepads. 100% works, unless you're in a market of only females, then you're going to fail.

plan smart, find customers who have a need to be met, expand after you find profit. Businesses fail because people make restaruants in small towns with zero advertising and just mediocore food.

You won't make money for the first few years unless you have a good and functioning business model and that alone is demoralizing enough to make people go out of business, even if they have a good idea.

So.
Most fail.
You'll get by.
You'll get rich.
You listed the only options possible, don't know why you researched that when there's no other option.
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>>1718571
>95% of business fail in the first 5 years
the number is actually 50% in the US.
half of all businesses fail in 5 years.
>99% of business net there owners under 6 figures profit per year
the average for SMALL business owners is about $70k. Given a normal distribution, something like 70% of small businesses would make less than $100k.

depends a lot on the field of endeavor though. For example the average income for the owner of a carpet cleaning company in the US is more than $100k. That's thrown off a bit by the handful of owners that net millions every year, but making $100k isn't an unreasonable expectation in that line of work.

A lot of particular businesses make much more on average. Keep in mind that the average is brought down by millions of people on etsy and ebay making $15k/year.
>>
>>1718520
>>If you start a business, you will likely either fail, make mid 5-low 6 figs or get rich
most business owners do all three, over and over again.

also keep in mind that once you get rich you have a 66%+ chance of going broke again. And similar odds of getting rich again. And broke again....
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>>1718767
>once you get rich you have a 66%+ chance of going broke again. And similar odds of getting rich again. And broke again....
this cycle occurs because of a simple paradox:

you don't want to sell your business when it's doing well,
but you also don't want to sell it when it's in the shitter.

So business owners tend to find themselves on a roller coaster of wealth and poverty. Many of them never really cash out, they leave their biz to the kids who almost inevitably ruin it because they lack the experience of building it.
>>
>>1718571
I'm gonna need a source on that one anon.
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