Makaveli2007 - 12:02 am on Oct 22, 2009 (gmt 0)

Interesting, thanks for the input.

What somewhat surprises me is that offline serial entrepreneurs (those who had run a business before) had only a 30% success rate for those whose first business was successful (vs. 20% for those whose first business was not successful).

On the other hand Ive also read that the vast majority of entrepreneurs (offline) enter industries that have the lowest success rates (restaurants for example), in other words picked industries where they have low odds of success in the first place

Basically this, I guess:

Most people I know that tried to start B&M businesses had the mentality that if they just throw a bunch of money at something, it will work.

Then again one would think that people who already had a successful business get that kind of thing right.

Never trust statistics unless you know every detail about the study, sample, etc. ..I guess ;-)