Colton, CA – Are you finishing college and or just starting your career and want to know the real stories behind starting a business that can succeed?
Millennial’s are starting businesses in record numbers. Kickstarting a small business is easy, staying in business is much tougher, that is why we have launched MircoGiants.
MicroGiants is a mentoring program for those in their 20’s who are considering opening a business within the first few years of college. One might say that a business degree qualifies one to start a business. It helps immensely, but in today’s working environment, few graduates have yet to work a meaningful amount of time. This lack of experience places them in a precarious competitive position against seasoned competitors. MicroGiants pairs highly experienced mentors with those considering how and when to launch a new business.
Join the information meeting for young adults about joining MicroGiants, Thursday, June 20th, at 1:30 at Oak Valley College. If you know of a Senior in college, recent graduate, or young person thinking about starting a business, please pass this on. www.MicroGiants.biz
Just over 20% of new businesses, make it just one year. Failure rates go up to 33% the second year, 40% the third year and just under half make it five years. You would hope that the failures would slow but they don’t until after ten years with only one-third of those starting making it ten years[i]. This is a poor success rate, and behind the scenes, houses are lost, credit is ruined, family loans are gone, and those years typically don’t add much to the resume.
Contrary to typical advice, success is not assured by following the SBA formula of research, write a plan, find a location, choose a business structure or name!
Small businesspeople are the rugged individualists who amazed the Frenchman, Alexis de Tocqueville when he toured a young America in the early 1800’s. They were craftsmen then, and farmers, traders and merchants; small businessmen, each one. Today this idea of individualism is no better manifested than in starting a small business. No other endeavor will create so much good. Society desnt usually think of businesspeople as heroes; but in truth, they are. They are Micro Giants – very small businesses that produce giant results. They represent:
- 99.7% of all businesses[ii]
- Over half all sales[iii]
- Occupy 30-50% of all commercial space, about 28 billion square feet
- Hire 74% of new people in a recovery
- Lead in Green Technology
- Are more creative and innovative
About the MicroGiants Program
Founded by Ron Burgess an entrepreneur and consultant to small businesses for more than 45 years, he brings his wisdom directly to young people through his MicroGiants program. Ron has created real measurable client value, in revenue, margins, growth planning, and innovation as a consultant with Burgess Management Group, he is a Co-Founder of the digital marketing company, RedFusion Media, and the author of the book, “Finding Your Crack In The Market.“
[i] SBA Small Business Stats
[ii] https://courses.lumenlearning.com/wmopen-introbusiness/chapter/small-business/
[iii] SBA Office of Advocacy, Survival Rates and Firm Age, 2013, https://www.sba.gov/sites/default/files/SurvivalRatesAndFirmAge_ADA_0_0.pdf
