Why many new businesses fail within the 1st 5 years?

1) Our schools train students to be employees wholook for jobs rather than train entrepreneurs who create jobs and businesses.

2) The skills to be a good employee are not the same skills required to be a good entrepreneur.

3) Many entrepreneurs fail to build a business. Instead they work hard building a job that they own. They become self-employed rather than business owners.

4) Many entrepreneurs work longer hours & are paid less per hour than their employees. Hence, many quit out of exhaustion.

5) Many new entrepreneurs start without enough real life experience & without enough capital.

6) Many new entrepreneurs have a great product or service but don't have the business skills to build a successful business around that product or service.

Source : "Before You Quit Your Job" (2005) - Robert T. Kiyosaki