Entrepreneurial Research...and my responses to it

According to an interesting study of 500 entrepreneurs in 24 industries by Duke University:

1. The average and median age of company founders when they started their current companies was 40....guess I am a young buck on this one.

2. 95.1 percent of respondents themselves had earned bachelorís degrees, and 47 percent had more advanced degrees....about half are just like me.

3. Less than 1 percent came from extremely rich or extremely poor backgrounds....yep.

4. 15.2% of founders had a sibling that previously started a business....that puts me in the vast majority.

5. 69.9 percent of respondents indicated they were married when they launched their first business....*nodding*

6. 59.7 percent of respondents indicated they had at least one child when they launched their first business, and 43.5 percent had two or more children....sorry---childless at the moment.

7. The majority of the entrepreneurs in the sample were serial entrepreneurs. The average number of businesses launched by respondents was approximately 2.3....nope first business.

8. 74.8 percent indicated desire to build wealth as an important motivation in becoming an entrepreneur....yep...well, and I hate working for others.

9. Only 4.5 percent said the inability to find traditional employment was an important factor in starting a business....I have struggled finding a career that keeps my interest.

10. Entrepreneurs are usually better educated than their parents...true here.

11. Entrepreneurship doesnít always run in the family. More than half (51.9 percent) of respondents were the first in their families to launch a business....that's me.

12. The majority of respondents (75.4 percent) had worked as employees at other companies for more than six years before launching their own companies....yep.

13. The majority of respondents (62.5 percent) were not in the top 10 percent of their college classes. 82 percent said they stuggled with the structure of high school and college....definitely me. I miss quizbowl in high school, other than that I hated it. I hated college even more....talk about not fitting in.

14. 61 percent said that working for others did not appeal to them....duh.

15. 14 percent have an MBA, as opposed to MBAs being only 1% of the general population....yep yep.

16. A middle child in a family of at least four children is three times more likely to become an entrepreneur than other children....to me, this is the most fascinating one.

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