You’ll hear the rate of business failure is as high as 95% within the first 5 years. In all likelihood those figures are exaggerated, the US Bureau of Labor Statistics puts it at around a 66% failure rate within the first 10 years. On the other hand a lot of new ventures (for example MLM pursuits) aren’t registered as businesses while on the flip side 17% of businesses that shut down aren’t based on financial failure but rather on voluntary closure (though why they are closing if they are successful is another question). Regardless of what statistics you choose the fact is the chance of a business succeeding financially let alone thriving is quite poor. We aim to change that!
Richucation is born of the desire to flip the conventional numbers from an 80% or 90% failure rate to a 90% success rate.
We believe strongly in the value of entrepreneurship to change our world positively and sustainably. Entrepreneurs drive innovation within the economy, which in turn is responsible for increasing our quality of life. Entrepreneurship eliminates market disparities and drives down costs of living through competition and innovation. Entrepreneurship is the seed of philanthropy. If you want to know what a world without entrepreneurship looks like take a look at economies like communist Russia and compare the slow dogged progress drive by tyranny vs rapid progress during the same period in economies like Japan and how it affected the quality of life of the average individual.
For this reason we believe the single greatest mission we can accomplish is to empower and enable entrepreneurs not only through the encouragement to make their visions true but through the education, skills, and resources that will increase their chances of success. Too many people in the world give up on their dreams or never pursue them due to the risk of failure but what if the risks could be substantially mitigated? How powerful would that be in our world? What sort of ripples would it bring.
This is the goal of Richucation and we’re honored you’ve decided to join us.