Introduction to entrepreneurship/BMAN111/Entrepreneur/Failures

“Failure is simply an opportunity to begin again, this time more intelligently.” — Henry Ford (Founder of the Ford Motor Company)

So far, we have focussed on the typical characteristics of a successful entrepreneur. However, in the world of business, there are no shortcuts to success and there are many potential pitfalls, as these two articles show:

• 10 Reasons Why Entrepreneurs Fail
• Why some Startups Succeed (and Most Fail)
  

Attitudes to failure

In an entrepreneurial culture, failure is often seen as an opportunity to learn from mistakes and to do better next time.

This article is an example of a positive attitude to business failure:

• 21 Entrepreneurs who failed big before becoming a success

However, different cultures have different attitudes to failure. This may affect how an individual feels about taking the risk of starting up a new business.

Read this article: How different cultures deal with failure for one description of attitudes to failure in different countries.

WEnote

• What is the attitude to business failure in your own country?
• If your country, or a country that you are familiar with, is mentioned in the article, does the description seem to you to reflect reality?
• How do attitudes to failure affect your approach to entrepreneurship?

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