This article facts are based on survey conducted on 2000 Nigerian entrepreneur on June 2017 in various part of Lagos.

Their are high failure rate of small businesses. Many don’t last 2 years – and yet the entrepreneurial enthusiasm and fire keeps burning in them. Those Entrepreneurs who survives are not business witches and wizards 
So what separates the ones that boom from the ones that jam?

1) They keep their finances in order: 98% of Successful business owners watch their expenses. Most recommended financial or accounting technology to manage finances; while the unsuccessful business owners struggle to get grip on their finances - They spend uncontrollably - They blame financial mismanagement.

2) They have Business Experience: 58% of Successful Business owner have a good well paying job - they leave the job to take on entrepreneurship.

3) They are willing to Spend Money: Successful business owners are happier to splash their cash; while unsuccessful business owners are slow to spend money.

4)They Accept their Flaws: Successful Business owner ask for help when needed; Unsuccessful entrepreneur go for Try'n'error to solve problems.

5)They Don't Work Round The Clock: Successful Entrepreneur rest and catch fun. 58% says spending time with friends and family in the evening is crucial to their Success. 28% Turns off their Phone and Laptops after business hours; while, Unsuccessful entrepreneur work round the clock, hardly recreate, spend little time with loved ones.

- Abiola Ewuola
invoice.ng/blog