Entrepreneurship Success and Failure

The startup rate fell to an all-time low in 2012 at 7.87% of businesses. Fewer than 35% of companies are considered “young” compared to nearly 50% in the 1980s. Despite this, 0.32% of adults create a new business each month on average. Immigrants are almost twice as likely to start up a business as the native born, 0.51% to 0.28%.

The decision to become an entrepreneur is terrifying. Often the decision to take the first step is the most difficult. More often than not, failure acts as the impetus to that first step. Nothing gets you over a fear of failure like experiencing it firsthand.

A study by LinkeIn found that entrepreneurs stayed in previous jobs for an average of 2.5 years compared to the national average of 4.4 years. Despite the common image of the fresh out of college tech entrepreneur, 65% of entrepreneurs are over 30 years old. They have experienced life, tried new things, and experienced failure. This very experience often provides the knowledge to succeed as an entrepreneur.

 

Podcast – Entrepreneurship – The Adam Goldfein Show – Hour 1

Podcast – Entrepreneurship – The Adam Goldfein Show – Hour 2

 

 

Additional Resources

Forbes, How Entrepreneurship Is Creating New Opportunities for Women: http://www.forbes.com/sites/northwesternmutual/2013/08/13/how-entrepreneurship-is-creating-new-opportunities-for-women/

The New York Times, The Health Tradeoffs of Entrepreneurship: http://well.blogs.nytimes.com/2013/08/08/the-health-tradeoffs-of-entrepreneurship/?_r=0

Miami Herald, New Magnet Program for Tech-Entrepreneurship Education in the Works: http://www.miamiherald.com/2013/08/13/3560438/new-magnet-program-for-tech-entrepreneurship.html

Bloomberg Businessweek, Entrepreneurship Education Is Hot. Too Many Get It Wrong: http://www.businessweek.com/articles/2013-08-08/entrepreneurship-education-is-hot-dot-but-too-many-get-it-wrong

The Kauffman Foundation: http://www.kauffman.org/

Venture Beat, What’s the Profile of the Typical Entrepreneur? http://venturebeat.com/2011/09/01/linkedin-entrepreneur-dna/

OECD iLibrary, Entrepreneurship at a Glance 2013: http://www.oecd-ilibrary.org/industry-and-services/entrepreneurship-at-a-glance-2013_entrepreneur_aag-2013-en

Forbes, U.S. Entrepreneurial Activity: Why the Falling Startup Rate Could Be A Good Sign: http://www.forbes.com/sites/kauffman/2013/04/17/why-the-falling-startup-rate-could-be-a-good-sign/

 

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