What are your odds for success?

Written by Michael Port | June 10, 2009 | No Comments

If someone could tell you what your odds of succeeding in business were, would you want to know the answer? If you’re like most people, you’d jump at such an opportunity.

That’s why I’m excited to share news that StartupNation has introduced a simple “Odds of Success Calculator” to help you understand your odds for success based on eight simple questions. They use comparative data from over a half million businesses to help you identify and evaluate business risk, and calculate the probability of whether your business will succeed or fail.

Here’s a direct link to the Odds of Success Calculator:

http://www.startupnation.com/small-business-success-calculator

Your results are provided along with specific suggestions for how you can clearly improve your chances for success. Best of all, it’s offered at no charge. Some of the key risk factors, including amount of capital investment, difficulty in obtaining funds, quality of financial management, degree of business planning, annual industry growth rate, management experience and industry experience are considered.  One thing I enjoyed was entering different timeframes for success, such as two years or four years.

Definitely give it a spin and be sure to use the advice and resources they give to improve your odds.

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