Entrepreneur's Guide to Success

Hint: Try the opposite of what is taught in business school.

Many people would like to be self-employed but fear the risk -- with good reason. Within five years, half of new businesses are out of business.

Ironically, you're particularly likely to fail if you follow such standard business school exhortations as "Innovate!" While such advice makes for interesting class discussions and may be appropriate for "intrapreneurs" inside deep-pocketed corporations, it puts the average entrepreneur at grave risk of going bust.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Marty Nemko
Contributing Columnist, Kiplinger.com