The statistics on venture investment suggest that 2% or less of startups are “successful”. But that’s for those actually looking for equity based funding. The coming of crowd funding is changing that and it’s true that most startups get traction by bootstrapping.
But the fundamental nature of entrepreneurship seems to defy analysis. Entrepreneurs find a problem in need of a solution and are able to provide that solution to someone who is willing to pay for it.
We have a guy who teaches gun safety. People come to his classes and have to load their guns by holding them under their arms or in worse places. So he invented a folding table specifically designed for that purpose. He had a few made and now others are asking for them. It’s not the next Apple and he likely will not show up in an HBR article.
But he IS an entrepreneur!
Rob Wiltbank spoke at the 2013 SSTI Conference in Portland