After debunk­ing the myth that only one-in-ten star­tups suc­ceed (the rate of suc­cess is more likely around 60–70%), Dan Kehrer offers us four key fac­tors that improve the odds of new busi­ness sur­vival:

  1. Peo­ple. If you can afford to hire employ­ees, do it. Well-staffed busi­nesses have bet­ter sur­vival rates than solo operations.
  2. Startup cap­i­tal of at least $50,000. Not easy, per­haps, but busi­nesses that start with less have higher fail­ure rates.
  3. A col­lege degree for the owner. Bet­ter yet, enroll in a college-based entre­pre­neur­ship pro­gram and learn the ropes before you get started.
  4. Home begin­nings. To keep costs low, start ini­tial stages of your busi­ness from a home office. Busi­nesses that start this way and then move into big­ger digs have higher suc­cess rates.