Every entrepreneur, by definition, is successful. The dictionary defines entrepreneur as someone who assumes the risk for founding and managing a business. The degree of entrepreneurial success, however, can be measured in performance outcomes such as market share, longevity, sales revenue, and number of employees. It is universally accepted that the United States has the strongest entrepreneurial climate in the world. At any given time, 1 in 10 Americans are involved in starting a new business, and 5 percent of U.S. adults between the ages of 18 and 64 are principal owners in a venture that is less than 42 months old. Research shows that the prime age for startup entrepreneurs is 25-44 years of age, a cohort that accounts for 30 percent of the U.S. population.
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Author: H. Randall Goldsmith, Ph.D.
