- Joseph Rasmus
- Read Time: 3 mins
The Bureau of Labor Statistics tells us one in five American business ventures fail in the first year, 50% fail by year five, and 67% by year ten. The top causes of failure are overestimating revenue, lack of leadership capacity, ineffective business planning, and underestimating initial marketing needs: the four top reasons for failure are all Process Failure subcategories.
The data suggests a general deficiency in planning, seeing, and analyzing Process. These skill gaps exist, in large part, because traditional training methods tend not to be good at developing these skills.
Most leaders developed their professional skills through presentation-based workplace or classroom training, independent reading, and rote memorization. All rely on a presenter or writer to manufacture contrived scenarios for analysis. Every step of analyzing the scenario is preplanned and static.