Fun Facts
What is the best country for a start-up entrepreneur?
The United States - has a Global Entrepreneurship Index is 83.6
What are some types of entrepreneurship?
Small business, Scalable startup, Large company entrepreneurship, Social entrepreneurship
Which famous entrepreneur had the story of their business portrayed in the movie The Social Network?
Mark Zuckerberg
True or False, across all industries start up failure rates seem to be close to the same?
True
What is the average start-up payroll cost for five employees in the US?
$300,500
What is the average age of a start-up entrepreneur?
The average age of a successful startup founder Is 45.
Define startup entrepreneurship…
A young company founded by one or more entrepreneurs to develop a product or service and bring it to the market.
What dyslexic entrepreneur made mainstream automobiles a reality?
Henry Ford
What is the number one reason for startup failures?
It is due to misreading market demand, found in 42% of cases.
What is the most popular financing method for start-up costs?
Personal funds
There is no market need
Give an example of a type of entrepreneur.
Innovator, Hustler, Imitators, Buyers
Who was a senior vice president at D.E.Shaw before beginning a start-up that would eventually become the most valuable company in the world?
Jeff Bezos
Roughly how many startups fail within the first year?
10% of startups fail within the first year
What fraction/percentage of start-ups launch with less than $5,000?
1/3 (33%)
What percent of entrepreneurs went to college?
67%
What are some characteristics of the entrepreneurial mindset?
Creative thinkers
Action takers
Listeners
Big picture thinkers
Learn from experience
Make an impact
Which famous entrepreneur was born in South Africa in 1971?
Elon Musk
Which industry of startups are most likely to fail compared to other industries?
Information companies are most likely to fail. On average, only 37% of information companies are still operating after four years.
The average start-up requires about how much capital/money?
$10,000
Varies, but around 7-10 years
What are some of the most important skills that being an entrepreneur requires?
Curiosity
Time management
Strategic thinking
Efficiency
Resilience
Communication
Networking
Finance
Branding
sales
Who famously said, “customers don’t know what they want until we show them”?
Steve Jobs
Founders of failed startups have a ___ % higher chance of succeeding on their next venture.
20%
Start-ups with co-founders, on average, raise capital at what percentage more than a single founder?
30%