Never ever fail
Amish community’s success rate is 95%
Entrepreneurship
Amish community’s success rate is 95%
Most new businesses fail within. Resource crunch, tough markets, stronger competitors force businesses to shut down. Businesses by Amish community have a success rate of 95%.
As per Investopedia: Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more.
Old Order Amish people get around in a horse-and-buggy. They live off the power grid, without telephones, computers and other modern technologies. They do not use modern business growth strategies and tactics. Yet, their businesses succeed. Pioneer Equipment is growing, thought their market is small. They help their competition, finance their customers/ buyers and help local businesses.
As per Forbes there are 5 reasons for them to succeed.
Believe in what you sell.
Love and care about the customers.
Think different.
Stay in touch with your customers like a family member.
Work, while others sleep.
Know more: Amish life Link