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Why Do People Start a Business?

Friday, July 16, 2010   (0 Comments)
Posted by: Matthew Montoya
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A survey from a pool of Columbia Business School alumni entrepreneurs was recently conducted to understand the overall pattern of our graduates' entrepreneurial experiences and what factors predict success. One of the questions posed was: Why did you start a business?

The results showed the various reasons people first became entrepreneurs and how these motivations are linked to success. Interestingly, one of the least cited reasons is the only one that is linked to success.

Great business idea 41%
Autonomy 30%
Frustration with corporate opportunities 25%
Lifestyle 23%
Potential for greater financial success 16%
Life goal 6%
Challenges/excitement 6%
Desire to build 5%
Exercise creativity 2%
Other 11%

*Based on 1,497 Columbia Business School alumni

Some of our survey highlights from this question revealed:

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