One of the questions that still nags me is why aren’t more entrepreneurs successful? We have amazing information and resources online, tons of community events, and a wealth of people that truly want to help out. On the surface, it appears that the necessary ingredients are present to have a higher success rate. Now, I don’t know the previous success rates or the current success rates, so this is merely based on my gut.
As I look around the community, I want to see many more startups that are clearly on their way to being a viable, on going concern (my definition of a successful business). The lean startup movement and tools like the business model canvas are great for helping entrepreneurs spend their time more wisely, thus increasing the likelihood of success. I haven’t seen the increased success yet, but I’m hopeful.
Another theory is that you can’t pick winners and some people will make it and most won’t make it. If that’s the case, and the resources for success are better and costs lower than ever to launch a tech startup, the next area of focus is to get more people that are thinking through ideas to take the plunge. Accelerator programs like Y Combinator and Flashpoint are great entry points for entrepreneurs to jump in with a group of peers around them.
I don’t have the answers but it appears that the next area of focus is increasing the top of the funnel of total number of entrepreneurs to increase the number of successes.
What else? What are your thoughts on helping more people become entrepreneurs or investing more in resources for existing entrepreneurs?