So, You Want to be an Entrepreneur?

Image courtesy: Gerd Altmann/Pixabay

“All our dreams can come true, if we have the courage to pursue them.”

Walt Disney

“Ideas are no one’s monopoly. Think big, think fast, think ahead.”

Dhirubhai Ambani, Reliance Industries

Entrepreneurship 101

Have you noticed how people react when you say you are an entrepreneur? They get excited and want to know all about your venture, and how successful you are, monetarily.   Entrepreneurs are special a special breed. It takes substantial efforts to overcome numerous hurdles before you can join this elite group. The U.S. Bureau of Labor Statistics says about 20% of U.S. small businesses fail within the first year. Roughly 50% fail by the end of the fifth year and only a third survive after 10 years (I have not been able to find the statistics for India, but it is bound to be similar). When this is the case, why does everyone aspire to be an entrepreneur? The idea that anyone can work on an idea, build a business, and create wealth, is something that appeals to all of us.

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