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" "the U.S. Small Business Administration purports that “roughly 50 percent of small businesses fail within the first five years.” In a study published by the Monthly Labor Review in 2005, economist Amy E. Knaup states that 56 percent of businesses die within the first four years.
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Your processes are your Way of doing business. Successful organizations see their Way clearly and constantly refine it. Due to lack of knowledge, this secret ingredient in business is the most neglected of the Six Key Components. Most entrepreneurs don’t understand how powerful process can be, but when you apply it correctly, it works like magic, resulting in simplicity, scalability, efficiency, and profitability.