Facts
More Facts About Starting A Business
* All else equal, a venture-capital-backed entrepreneur who succeeds in a venture (by our definition, starts a company that goes public) has a 30% chance of succeeding in his next venture.
* By contrast, first-time entrepreneurs have only an 18% chance of succeeding and entrepreneurs who previously failed have a 20% chance of succeeding.”
* Oddly enough, a new entrepreneur is more likely to get funded by a VC firm (compared to a tried and true one.)
* Starting a company at the right time in the right industry is a skill.
* Entrepreneurs with previous successes can get their hands on more capital and services if suppliers think they are persistent performers.
* If a start up is founded by previously successful entrepreneurs, then the VC firm doesn’t really matter.
* Most entrepreneurs get their ideas – from former employers. (Make sure employees sign those non-competes!)
* While 45% of first-time ventures receive initial venture capital funding at an early stage, close to 60% of entrepreneurs receive initial venture capital funding at an early stage when it is their second or later venture