Stats say sustained success isn’t easy

Many studies prove time and time again that thriving in the world of business isn’t easy.

Multiple experts told The Times this week that more than 90 percent of businesses fail within their first decade in operation.

Many more of that 90 percent flop within their first five years — some even in year one.

The reasons for failure are countless and include things like poor planning, lack of interest in the business, poor customer sales or even simply plain-old bad luck.

But local business owners who have survived the test of time all seem to agree that on the opposite side of the fence, success is defined by willingness to put customers first and show community members that you care.

“The people have to come first,” Thibodaux General Medical Center CEO Greg Stock said. “If you put people first, give them the best care you could possibly give, you will always be pleased with what the end result would be.”

Having good people around the business helps, too.

Every local business owner asked this past week about the key to success put employee dedication high on the list.

The Foster brothers at Terminix said a big key to sustained success in business involves hiring quality people, but also keeping them on board once they’re there.

Business experts said that increased turnover and a lack of longevity is one of the challenges that most failing businesses face.

“You’re only as good as your people around you,” Dan Foster said. “That’s one of the biggest keys anyone could ever know.”