| Entrepreneurship is a multifaceted adventure that, | | | | their own business and then saw them take off |
| without a doubt, closely resembles a roller coaster | | | | to unimaginable heights. There's a reason why the |
| ride. When you begin an entrepreneurial journey | | | | Horatio Algers of the world continue to inspire |
| or "ride," you are aware of the gamut of | | | | thousands of entrepreneurs every day. There is a |
| experiences, both disappointing and rewarding, | | | | reason why some of America's greatest |
| that you will encounter as you undertake this | | | | companies started with an idea, with meager |
| challenge. | | | | seed capital, and with an individual who had a |
| Entrepreneurial challenges are not unlike most | | | | maniacal belief in the potential of an idea, and--- |
| challenges in life. Hard work, long hours, and | | | | along with determination and perseverance--- saw |
| anxious moments are just a few of the | | | | it through to success. |
| characteristics of the journey to most successful | | | | However, for every success, there are hundreds |
| outcomes. | | | | of failures. The statistics are not only sobering, |
| Reoccurring questions often roam the business | | | | but downright frightening. More than half of all |
| mind, and---although they may be phrased in a | | | | businesses started today will fail. The failure rate |
| variety of ways---are basically centered on these | | | | is astounding. Take a look at recent U.S. Bureau |
| four primary issues: more sales, more cash, more | | | | of Labor Statistics data, and this is what you will |
| time, and more of the "right" people. | | | | discover: After two years, across all sectors, 44 |
| Starting your own business is an undertaking that | | | | percent of all new businesses are no longer in |
| requires more than vision, inspiration, sweat | | | | business. After four years, 66 percent no longer |
| equity, money and determination. It is a leap of | | | | exist. And, these survival rates don't vary much |
| faith that demands that you let go of everything | | | | by industry. |
| that is safe, comfortable, and proven. It is getting | | | | What do the statistics tell us? That most new |
| "outside the box" in the biggest way possible. | | | | businesses--whether they're founded on the most |
| Beginning a new business venture can be risky, | | | | brilliant idea since the theory of relativity or |
| dangerous, and harrowing. However, with the | | | | production of a mundane but exquisitely |
| proper preparation, the appropriate knowledge, | | | | necessary manufacturing component--are making |
| and the counsel of a mentor or a trusted advisor, | | | | fatal mistakes that will ultimately lead them to |
| it can be a liberating and an extremely rewarding | | | | bankruptcy. This much is certain. If more than half |
| experience. | | | | of all new ventures fail, there are lessons that are |
| There's a reason why many of America's most | | | | not being learned. |
| successful people are entrepreneurs who started | | | | |