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lolabarry | Is it true that 90% of first time entrepreneurs will fail? |
why is this? |
 |
 
Fabulously Broke in the City
 |
Yes. Because they mostly don't have a business plan, clear vision, or unique selling point. Other reasons are also experience, bad timing, lack of research, bad luck, lack of cash flow and investment.... and all of those 'other reasons' tie back to not having a clear business plan and vision before execution. |
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ihate c
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very true, this a optimistic estimate,.people not no satiff. |
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answer
 |
If you told me you was going to Fly a Plane I would advise you to take a Flight training Course First. Same thing with a Home Based Business, There are Home Based Business Courses That can Teach you step-by-step how to start a home based business.
When you find a Home Based Business course that You are interested in the small amount that you would invest in it, Would be well worth it to you in the long run, Once you have a highly successful Business to make money online for yourself. |
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J D
 |
It may be true in a sense and I agree with a lot of what the other people mentioned in their answers. However, to be honest, I think that it depends on the person. It's important to get involved with something that you're passionate about and to have a great business plan. There are many businesses out there that will help you succeed and already have the business laid out for you. It's hard to try and re-invent the wheel and I think that it why so many people give up. So, don't be scared! If being your own boss and starting your own business is something that you're interested in....then make that business decision the keep with it no matter what. Having a "no matter what" attitude will help you when times get rough. Make the decision to never quit, succeed, and do all that it takes to get yourself there. Best of luck! |
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ifs_enoch
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Yes it is true, just like 90% of people who never learn how to fly a plane and they try to fly the plane :)
The problem is that most people do business without learning... So what can you expect? 90% of them will fail |
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The Prince of Egypt
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no its not true |
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minootoo
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It is true, and it is based on pass experience from various registries that keeps record, issues licences, commercial rental property.
Most fail because of various reasons.
In my experience the main reason is lack of capital, it takes lots of capital to do any thing, let alone support the venture thru lean times.
Capital allows you to make mistakes and still survive, even if you do not make any mistake you can fail mainly because of lack of capital. No matter how good you plan,how much you know or how good was your training Murphy law will take over and only thing that can bail out or let you survive is capital.
As a matter of fact it is more like 95% that fail, only 5% make it, and even then they fold, look at various air lines, big names like, American Motors, Studebaker, Desoto, Pan American, TWA, Eastern,...... not to mansion the ones in bankruptcy few times and have survived, because of bail out.
As a rule most venture loose money in the first two years. They break even in the third year and start making some profits after 4Th year. By that time it is time to renovate the place means more capital. |
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renganathan g
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if this statement is correct, it also means that 50% of the first time entrepreneur are successful,It depends upon one view things and something similar to saying that half of the glass is empty instead of saying that it is half full |
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AaSHEK
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no they dont fail |
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