The Gem Munro Show

80% of Small Businesses FAIL and Here’s Why


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Is your business supporting the life that you want? Or has it completely taken over and overshadowed your dreams and your desires for your lifestyle?

For entrepreneurs and business-owners, this episode is for you specifically! I am going to dive deeper into the business side of things.

Eighty percent of small businesses fail before they hit their five-year mark. Eighty percent! There’s no coincidence here—80% is a big number!

In this episode, we talk about why this happens and there is a way out of the 80%!

  1. Why do we start a business? Because we are passionate about something we are good at, so we create a business out of it in order to gain the freedom we desire. [2:30]
  2. “They start to resent the business because they don’t even get to do the thing that they love anymore, which is why they start the business in the first place!” [4:25]
  3. Two types of business owners: to generate more business vs. to capitalize on their passion [5:36]
  4. The solution to be in the 20% and not the eighty: hire a Born Entrepreneur  [7:56]

Get back to doing what you love, that set your soul on fire! Focus your energy on what you are passionate about and borrow someone else’s time to do the rest, such as running the systematic and logistics part of the business.

Hire out; outsource what is not in your zone of genius.

If you have been following me for quite some time now, then you know me. I have made it my personal mission to make sure that everyone is working in their zone of genius as close to 100% of the time as possible!

I can help. Linking here the Breakthrough Session that you can check-out, too.

If you have any questions at all about this podcast, please reach out and let’s connect (if we haven’t already)! 

E: gem@gembodymind.com

IG: @gem_munro

W: www.gembodymind.com  

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The Gem Munro ShowBy Gem Munro

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