Business Advice from the Amish

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http://money.cnn.com/2010/05/04/smallbusiness/amish_business_success/index.htm CNNMoney.com) -- Want to find America's most successful entrepreneurs? Skip Silicon Valley and Manhattan; head to the rural Amish enclaves. Amish businesses have an eye-popping 95% success rate at staying open at least five years, according to author Erik Wesner's new book, Success Made Simple: An Inside Look at Why Amish Businesses Thrive. It's a statistic he backs up with a variety of academic surveys, drawing particularly on 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%. Compare that to the average five-year survival rate for new businesses across the United States, which hovers just under 50%. So what's the secret? Wesner, who worked in business management and sales before immersing himself in all things Amish, thinks it lies in the culture, which emphasizes "qualities like hard work and cooperation." Networking through Facebook doesn't exactly have the same community-building pull as teaming up with neighbors to build a barn, and few Americans these days can point to a childhood where they awoke regularly at dawn to milk the cows. Another key advantage is that Amish business owners tend to stick with what they know. I believe there is a lot we can learn from the Amish. No matter your opinion on the Amish, there business sense is spot on. What do you think?