5 Things Every Millennial Entrepreneur Should Know About Startups | GOBankingRates

and pursue solitary business ventures is prominent among this youngest generation of adults, with 66 percent of millennials reporting a desire to start their own business in a 2014 Bentley University survey — compared with just 13 percent who cite climbing the corporate ladder to become CEO or president as their career goal.

 

But it's not all glamour, glitz and game rooms in startup life. Fortune reports the less publicized failure rate among startups at 90 percent. To become part of the 10 percent who succeed, here's what millennial entrepreneurs should know about startup reality.

 

article recalls an interview with Facebook co-founder Dustin Moskovitz in which he was asked about Facebook's “overnight success.” His response: “If by ‘overnight success' you mean staying up and coding all night, every night for six years straight, then it felt quite tiring and stressful.”

 

A successful startup venture requires constant commitment and unwavering persistence, especially in the face of obstacles and setbacks. “The best-kept secret in the startup world is that there is no such thing as an overnight success,” wrote George Bradt, founder of executive onboarding group PrimeGenesis in an article for

 

Startup life conjures images of warm, innovative workspaces, community game areas, catered gourmet lunches, laid-back dress codes and generally positive working atmospheres. Perhaps it's this glamorization of the entrepreneurial lifestyle that draws so many millennials to the prospect of launching their own business.