It's true! They have a 95% success rate. I didn't believe it either at first. Yet it's an assertion backed up by a wealth of statistics.
A 2009 report by Elizabethtown College sociology professor Donald Kraybill. Studying several Amish settlements, Kraybill found failure rates ranging from 2.6% and 4.2%; interviews with loan officers, accountants and industry professions in other Amish regions yielded additional anecdotal evidence of closure rates significantly south of 10%.
How do they do it? The answer is rooted in their culture. In Amish communities, nothing is more emphasized or promoted than hard work. That ethic permeates not only daily chores but the companies they form, own and operate. The Amish also stress the importance of cooperation, relying on others' strengths where you may encounter your own weaknesses. And we're not talking about the kind of collaboration that takes place online, which so many of us rely on daily for business purposes. We're talking about face to face communication and team building that centers around tangible activities and challenges that can unite participants and capitalize on an individuals' best attributes.
Another defining aspect, Amish business owners have a solid understanding of their capabilities and more importantly, the things they excel at. They know what they're good at and don't try to push into realms they may not be skilled in. This inspires something corporations are constantly trying to garner: trust and loyalty of consumers.
It doesn't hurt that the Amish tend to demonstrate humility, a quality that allows good leaders to grow into even better ones.
Many Amish businesses demonstrate great knowledge of business strategy and the accompanying concepts. They build strategies around concrete ideas, incorporate humility into marketing strategy plans and much more. Read the entire article here.
What can you do to be more like the Amish? How can you incorporate their culture into your company's culture or your business strategy?
A 2009 report by Elizabethtown College sociology professor Donald Kraybill. Studying several Amish settlements, Kraybill found failure rates ranging from 2.6% and 4.2%; interviews with loan officers, accountants and industry professions in other Amish regions yielded additional anecdotal evidence of closure rates significantly south of 10%.
How do they do it? The answer is rooted in their culture. In Amish communities, nothing is more emphasized or promoted than hard work. That ethic permeates not only daily chores but the companies they form, own and operate. The Amish also stress the importance of cooperation, relying on others' strengths where you may encounter your own weaknesses. And we're not talking about the kind of collaboration that takes place online, which so many of us rely on daily for business purposes. We're talking about face to face communication and team building that centers around tangible activities and challenges that can unite participants and capitalize on an individuals' best attributes.
Another defining aspect, Amish business owners have a solid understanding of their capabilities and more importantly, the things they excel at. They know what they're good at and don't try to push into realms they may not be skilled in. This inspires something corporations are constantly trying to garner: trust and loyalty of consumers.
It doesn't hurt that the Amish tend to demonstrate humility, a quality that allows good leaders to grow into even better ones.
Many Amish businesses demonstrate great knowledge of business strategy and the accompanying concepts. They build strategies around concrete ideas, incorporate humility into marketing strategy plans and much more. Read the entire article here.
What can you do to be more like the Amish? How can you incorporate their culture into your company's culture or your business strategy?
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