Entrepreneurs take a different approach to life and have a path toward success that is pretty similar. You might assume that entrepreneurs have their success at an early age, but most do not found their company until about the age of 40. However, almost all of them put a premium on education with 95% obtaining at least a Bachelor’s degree and more than half continuing their education. Many of these entrepreneurs have normal upbringings and are not on either side of the spectrum. Less than 1% are born into very rich or very poor families. The United States not have more than 27 million entrepreneurs.
Later In Life
Due to the fact that most entrepreneurs do not found their company until the age of forty, most are married before they strike it big. Almost 70% of business owners are married before their company launches. Almost 6% are already divorced or even widowed by the time they achieve this level of business success. It is also found that nearly 60% of entrepreneurs have one child before their business is launched. Many of the entrepreneurs have another sibling that have also started a business. Could it be genetic? Almost 15% of entrepreneurs are the sibling of another business owner.
Is It Genetic?
Even though many entrepreneurs have siblings that are also business owners, this does not means that it runs in the family. Almost 50% of entrepreneurs are the first in their family to launch a business. However, it is common across the board for almost all entrepreneurs to have more education than their parents.
When it comes to the urge to start a business, most entrepreneurs never become too content. This is shown by the statistic that the average number of businesses launched by each entrepreneur is more than 2. This means that they are constantly looking for a new challenge and are not satisfied with ownership of just one business. This is a trait that is consistent with most entrepreneurs.
Why Start Your Own?
When you begin to dissect the reasons behind the launch of most businesses you find that wealth is a major focus. Almost 75% of entrepreneurs are looking to build wealth and indicate that this is an overriding motivation. However, simply getting rich is not the only reason that entrepreneurs take this route. Nearly 5% of entrepreneurs start their own business, because they can’t find traditional employment.