How many does it take?

How many "unsuccessful" business attempts have you tried until you reached that one that was successful?

I have tried to start my own business SEVEN different times so far. I am on number EIGHT right now. Most of them "failed" because I did not have the money to keep it alive during the rough times. Experts say "you should have a whole year's worth of expenses in your savings account before you attempt to start a business. The main expenses include rent, payroll, utilities and a little extra saved up for emergency situations."

Experts also say that you should get all of the money you make and put it back in the business for the first two years. After the two year mark is when you will start making profit. I learned that lesson in my first attempt. I made some money selling merchandise at the flea market. Instead of using the money to buy more merchandise, I spent the money on "luxury" items. I used that money to go to a fancy restaurant or to go to the movies. Looking back, I believe I could have made that business work. Everything was going so smooth with that attempt. The only thing that prevented success was my mismanagement of money. (and that is true for a lot of businesses. I think the most recent stat is: 90% of businesses fail within their first year.

This quote just came to mind: "I have not failed. I've just found 10,000 ways that won't work."- Thomas A. Edison

I believe that the term "failure" should never be used when it comes to starting a business. A person should not view it as a failure but as a learning opportunity!

Here is one more stat for you:
only 1% of people really have the ability to take entrepreneurial risks. 99% of the people can work for a business once it has been established, but only 1% of the population have the courage and the ability to actually make the entrepreneurial breakthroughs that create those jobs.