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Most Start-up Companies Fail And It Is Smart Public Policy To Help Entrepreneurs Increase Their Odds Of Succeeding. But, The Biggest Loss To Our Economy Is Not All The Start-ups That Didn't Make It: It's The Ones That Might Have Been Created But Weren't.

There Was A Study Done In The Early 20th Century Of All The Entrepreneurs Who Entered The Automobile Industry Around The Same Time As Henry Ford; There Were Something Like 500 Automotive Companies That Got Funded, Had The Internal Combustion Engine, Had The Technology, And Had The Vision. Sixty Percent Of Them Folded Within A Couple Of Years.

By The Time That Product Is Ready To Be Distributed Widely, It Will Already Have Established Customers.

When Steve Jobs And Steve Wozniak Created Apple Computer In A Garage In Palo Alto, It Heralded The Beginning Of The Pc Revolution That Ultimately Dealt A Death-blow To Dozens Of Older Companies.

Start-up Success Is Not A Consequence Of Good Genes Or Being In The Right Place At The Right Time. Success Can Be Engineered By Following The Right Process, Which Means It Can Be Learned, Which Means It Can Be Taught.