Conventional wisdom holds that some 90 percent of start-ups fail. After years of observation, Adeo Ressi — a serial entrepreneur who founded TheFunded.com, an online community where entrepreneurs rate investors; Methodfive, a website developer; and Total New York, which became AOL Digital Cities — concluded that the high failure rate was the result of the wrong people starting businesses and not getting the right training.
via An Entrepreneur Who Manufactures Entrepreneurs – NYTimes.com.
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One of the most overlooked and most important things for an entrepreneur to develop is the mindset of an entrepreneur. Many employees take the step into entrepreneurship banking on their knowledge/skills to be enough. An employee mindset can not run a business. Many businesses fail and people go back to their corporate jobs because this vital component is missing. It’s not that people are not capable….they simply have not taken the time to work on their minds.