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Your Business's Five Year Survival Rate

by EVP Mobile & Social at Monster Media on May 10, 2010

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The "5 year survival rate,” according to Wikipedia, is a medical term for estimating the prognosis of a particular disease. If you were diagnosed with cancer, you’d be faced with this morbid fact ...

The "5 year survival rate,” according to Wikipedia, is a medical term for estimating the prognosis of a particular disease. If you were diagnosed with cancer, you’d be faced with this morbid fact and would have to deal with it. It could be liberating or debilitating. The interesting thing is this: If you were told that your five-year survival rate was, say, 80 percent, you wouldn’t just carry on doing what you were doing. An 80 percent survival rate means you have a 20 percent chance of not making it through the next five years. A one-in-five chance is somewhat akin to playing Russian roulette—not a game that most people would rush to play.

More than half of all small businesses fail before the end of their fifth year and yet do nothing to change their behavior.

Can the disruption of traditional media by the web, teach us survival tips?

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Your Business's Five Year Survival Rate Your Business's Five Year Survival Rate Document Transcript