According to the Harvard Business School (HBS), 30% to 40% of startups fail; the number is as high as 80% if you measure whether the startup reached its projected return on investment.
Actually, only a small proportion fail in the sense that they have outstanding debts or obligations. They simply try it, realise they are not very good, or get a better job offer, and exit into the waged sector. No scarring, simply a logical choice supported by the market revealing that your entrepreneurial ability is not up to scratch....
It has to do with national culture. One of the studies U read was reasoning that there is low level of entrepreneurial activity in Croatia due to stigma of failure that people are strongly exposed to.
Paul: Educate your students on the facts. Explain that the odds are against them. Tell them not to invest their life savings into their entrepreneurial endeavors. That's about all you can do.
The risk of the entrepreneur; it is likely that the activity is unsuccessful due to its decision. For this to be minimized, the future income and expenses are reduced and the profitability of the activity is estimated based on the present values.
In fact, it should be taught that entrepreneurship is made up of many stages, and that failure is the basis of entrepreneurship learning process.
(I am sory for the bad use of gramer )
Joseph Tham from muy point of view, the preparation (in order to not fail) came in three ways: the formal knowledge (planning, market analysis, SWOT, budget, forecast, etc), the network (incubators, consultants, lawyers, etc) and the entrepreneur personality (creativity, innovation, resilience, internal locus of control, etc). But... if the new venture fail, there is a business recovery option like contingency plans, refinance, assets sales, or so. But, the must important issue to give the entrepreneur the emotional tools to recover first himself from the failure, in order to recover the business. Recovering himself implies having frustration management tools, resilient personality, frustration tolerance, risk management, and so.
Вопрос достаточно сложный. Прежде всего самостоятельная деятельность может не всеми выполнятся. Не все рождаются гениями или бизнесменами. Одним из основных критериев, помимо знаний, опыта, финансирования, внешней и внутренней среды деятельности, должен быть лидер, который сформирует нужную команду для достижения результата.
Mykola Korinko Dear Mr.Korinko, thank you very much for your contribution. Could you post an English translation for those who may not have access to Google translate? Much thanks. With an English translation, you will have more participation. For example, currently I am in China and cannot access Google.
The question is quite complicated. First of all, independent activity may not be performed. Not all are born geniuses or businessmen. This should be the leader who forms the necessary team to achieve the result.
The question is quite complicated. First of all, independent activity may not be performed. Not all are born geniuses or businessmen. This should be the leader who forms the necessary team to achieve the result.
Mykola Korinko I thank you for the response in English. Please explain why independent activity not may be performed. It depends on the incentive system. I think entrepreneurship may have a leader but it is a decentralized process.
Working in teams. Often times, entrepreneurs are seen as the lone wolf, or the independent worker who is self-employed. However, successful start-ups are often incubated (given resources), mentored (given guidance), and modified (routine improvement) along the way. We need to move away from this independent mindset and into an interdependent one. There is no "one size fits all" model but I think more and more I see entrepreneurs, and social entrepreneurs in particular, as those who are problem solving and raising quality of life through innovations in the market place-- think better prices on healthy snacks, empowering dating apps, sustainably-powered water purification systems etc. Overall, start with the problem and be patient with the design phase.
Уважаемый Джозеф Тхам! Это проблемы перевода. В оригинале это написано так: Самостоятельная деятельность не всеми может выполнятся.
Это правка программами, которые используются в компьютерах. Самостоятельная деятельность не может выполняться всеми, кто только этого желает. Отдельные подготовленные представители общества могут проводить самостоятельную деятельность.
Hello, I think this is a very complex issue, my recent book title is "Technology Entrepreneurship" - published in 2018 (the empirical research have been made in avio - industry in Poland). According to me the best ground to explain the phenomenon of technology entrepreneur is network theory and configuration approach. In this case both interpersonal and technological managerial capabilities are important. For me the question how to teach technology entrepreneurship is open...
Business incubators stimulate entrepreneurship. Accelerators and other financing mechanisms are especially focused on such arrangements - which reduce the risk of failure.
Strong network,reevaluate the situations,emphasize on teamwork,leadership skills,,training
I believe in the preparation of entrepreneurs, teaches them how to undertake
I think that there needs to be more effort in skills training, especially for small enterprises where people have little experience and just look for ways to earn a livelihood. Often such people are disadvantaged in the sense that they do not find easily jobs in the labour market and opt for self employment....
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