Working in these fields...
So, do you have what it takes to become the next
Bill Gates or
Mark Zuckerberg? According to Bill Gates, having "good advice and good ideas and lots of enthusiasm" were keys to his initial success along with having "partnerships from the very beginning." If you’re thinking about becoming an entrepreneur, a simple quiz on
"How to Decide Whether to Be an Entrepreneur" may help you decide if that’s the right choice for you. Some may argue that there is a difference between being an entrepreneur and a small business owner by a person’s ability and inclination to operate in all sizes and types of businesses. In either case, having a strong sense of ownership and proprietary values can be applied to any situation where you are the ultimate decision-maker operating an independent business or an
"intrapreneur" running a venture within an organization. Regardless of the terminology, the decision to becoming your own boss carries some obviously inherent risks and is not to be taken lightly. So, what are the odds? According to the
Small Business Administration, on average two-thirds of new employer firms survive at least two years, and about 44% survive at least four. While some studies suggest a new business failure rate of up to 80% within the first five years, there is some question about how this percentage is determined according to an article published in The
Probablist.com. A study commissioned by the US Small Business Administration states that "approximately 7 percent of the working age population in the United States is actively engaged in efforts to start new businesses" in any given year. Based on the most recent report issued by the US Dept. of Labor, Employment and Training Administration; US Dept. of Commerce, Census Bureau; and the US Dept. of Labor, Bureau of Labor Statistics, "The nation had an estimated total of 26.8 million small businesses in 2006...[s]elf-employment (incorporated and unincorporated) totaled 16.1 million in 2006."