Entrepreneurship Requires Practice, Practice, Practice

The research, which examined records of 2.8 million small retailers in Texas, found that entrepreneurs were more likely to succeed the more times they had run businesses in the past. Entrepreneurship appears to be more of a craft than an aptitude.

Practically speaking, an entrepreneur could also focus on the lessons and takeaways from that failed business, lowering the risk of failure in his or her new ventures. And an entrepreneur can view a business that didn’t work out as a sign that he or she is not a failed entrepreneur but rather an experienced one.

“If you are an entrepreneur, you want to continue to gain experience as an entrepreneur,” Shaw said. “It’s really a long-term commitment. Learning from that experience can shape your future.”

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