Many people made the right decision to become entrepreneurs and have found success in business. However, despite the fact that entrepreneurship is a great way to build wealth, many are still leery to start their own small business. Why? That’s because they are afraid of to fail.
Well, starting a business might really be a risky decision. According to a certain study conducted by Forbes.com, every month over half a million small businesses in the United States while more shut down that startup. With this stat, it is really not a surprise why people are hesitant.
Starting a business (whether retail store, a home-based shop, or a tech) is not something that should be entered into lightly. More often than not you’ll go through a long period languishing while trying to make your business viable. As with many big decisions in life, starting a business is a very big risk.
Just like any other aspect in life, there is never an assurance of success in business. Rather, it is expected and statistically likely that you’ll fail. However, if you’re willing to work at beating the odds and fulfil a professional goal, this may still be the route for you.
Talking about how to overcome the challenges brought by startups, I’ll share to you an interesting article that I’ve just read from The Sydney Morning Herald. It’s about an App startup company that started from $3,000 and is currently valued at $25 million.