September 28, 2012
Entrepreneurs Can Do Better
Most entrepreneurs are disappointed with their results.
Some of the most careful research in the field indicates that:
- Over 30% of all entrepreneurs in America give up before even launching their business
- Once their business has launched, the average entrepreneur makes less than they would have if they had a comparable job – even after the business has been established as viable
- Most businesses that are launched fail within 5 years
These data indicate that perhaps 90% of all entrepreneurs are disappointed with the results of their endeavors. Can entrepreneurs do better? Yes! Research indicates that entrepreneurial results improve with:
- Levels of education
- Stability of the relationships among the founders
- Acquisition of basic level skills in areas such as bookkeeping, sales, and marketing
- Adoption of methodology that validates customer demand before product development
Virtually all entrepreneurs can achieve better results wherever they are in the evolution of their business. Many consultants make their living helping entrepreneurs improve, but plenty of improvement can come from just understanding what is required to succeed, making the effort to acquire basic skills, and following methodologies that achieve better results. Stay tuned.
