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Would the typical entrepreneur be better off as an employee?

The success rates for entrepreneurs are notoriously low. Furthermore, the reasons for their failure often seem quite predictable. This would seem to indicate that the typical entrepreneur, if they rationally assessed their business endeavor, would be better off being an employee.

Implications to Other Questions


Experts and Influencers

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Agree
Experts In Business


Scott Shane    Professor of Entrepreneurial Studies
Agree
Starting a business is easy? Actually it isn’t, and most people who begin the process of starting a company fail to get one up and running. Seven years after beginning the process of starting a business, only one-third of people have a new company with positive cash flow greater than the salary and expenses of the owner for more than three consecutive months.
10 Jan 2008    Source


Experts In Economics


Robin Hanson    Economics Professor
Agree
Don’t worry [entrepreneurs], you are the exception; none of these rules [that successful entrepreneurs follow] apply to your business.
27 Jan 2010    Source

Sub-Arguments Of This Expert:
Is optimism rational?
   Mostly Agree

Experts In Psychology


Malcolm Gladwell    Journalist, Author
Agree
...many entrepreneurs take plenty of risks — but those are generally the failed entrepreneurs, not the success stories. The failures violate all kinds of established principles of new-business formation. ... Writing a business plan is a must... Taking over an existing business is always the best bet... sell[ing] to other businesses [rather than consumers is better]... The list goes on... ...a good many of these risks reflect a lack of preparation or foresight.
18 Jan 2010    Source

Sub-Arguments Of This Expert:
Are successful entrepreneurs big risk takers?
   Disagree

Disagree
Experts In Business


Donald Trump    American Business Magnate
Disagree
Of course, becoming an entrepreneur is challenging. There are risks. But would you rather control your own destiny, or have someone else control it for you? The answer to that question is obvious. When you are ready to take the next step, Trump University is here to help. [Editors note: quote is by Michael Sexton, who is head of Trump University]
06 Mar 2007    Source


Experts In Investing


Robert Kiyosaki    Investor, Writer of Rich Dad Poor Dad
Disagree
Secure your financial future by thinking like an entrepreneur, not like an employee. ...the next time you hear yourself saying "I can't" or "That's impossible," remember that you are thinking like an employee and need to begin thinking like an entrepreneur.
01 Jan 2006    Source



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