Building a new business is a gamble: Not every entrepreneur strikes it big, especially on his or her first attempt. There's also a potential payoff, of course. From startups that earn their founders hundreds of millions of dollars to small businesses that provide a comfortable living for the owner's family, many entrepreneurs have found that the benefits outweigh the risks. Before an entrepreneur has any chance of reaping the rewards, he or she needs to recognize the risks and avoid them.
The Murray Story The risks of entrepreneurship are very real. Sometimes businesses fail, even organizations that have functioned for decades have disappeared over night as industries have dramatically changed. Even if an idea has a lot of potential, it may cost more than an entrepreneur actually has to get to market. David Murray, who left a six-figure position at Google to found a startup, has found that out the hard way. The effort of getting his product (an iPhone app) to market, combined with an underwater mortgage, has left Murray in debt.
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