Better Business

Bob Weinstein is a journalist who covers technology, project management, the workplace and career development.

  Business Case   Career Development   Strategy  

The mortality rate for small businesses is still scary. Approximately seven out of 10 new small businesses survive at least two years, half almost five years and a third more than 10 years, according to the most recent United States census (25 percent last 15-plus years).

The reasons for the high mortality rate change little year to year, according to the U.S. Small Business Administration. High on the list are insufficient funds, poor product or service, unqualified entrepreneurs and lack of commitment. But they don’t deter ambitious entrepreneurs with grand fantasies--enterprising project managers and techies to  skilled craftsmen and accountants--intent on making their mark on their own.

But the most important reason most small businesses fail is fear of failure, says Jim Camp, Dublin, Ohio-based business coach and author of Start with No. Camp calls the oppressive fear that leads to failure “chronic compromise.” Compromise is also known as “getting to yes” and “finding a win-win solution.” Chronic compromising is all about trying to please the other side, which means that you will be basing all decisions in the negotiation on an emotion--the need to be liked. Compromise-based negotiating may be the single most harmful behavior pattern a small business owner can fall into.

The best skill entrepreneurs can learn is…

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