Forbes.com recently posted an online survey, that was adapted from a Kaufman FastTrac questionnaire, to find out what drives entrepreneurs and the results not only give some great insight into what drives them, but also what holds them back. The strong response also indicates that entrepreneurship is alive and well, which is a good thing.
So what drives them?
- 48.5% have a passion for entrepreneurship
- 17.4% have a great idea or invention
- 29.5% want to be their own boss
What holds them back?
- 34.7% don’t know where to begin
- 36% say financing (which might also indicate they don’t know where to begin
- 10.1% indicate they don’t start because of a fear of failure.
The good news is that many of the things holding would be entrepreneurs back can be addressed through mentorship and education, which are things we really focus on with the IMGrind Private Forums, which if you are not familiar is a members only forum dedicated to helping online entrepreneurs learn and grow. The one statistic that really jumped out at me was the number of people who let financing hold them back. Bootstrapping a business and making it happen with low startup costs and low overhead is not only a smar way to start, but it is much more common amongst successful businesses than you might think. If a startup can be profitable or at least survive and figure out what works on the cheap, it can grow and become successful. Too often new entrepreneurs think throwing money at a problem will solve it, when ussually it just makes another problem, their money is gone. If you are one of those would be entrepreneurs, learn, apply, improve and don’t give up.