88% of Entrepreneurs say they Are Millionaires!

Inc magazine conducted an interesting survey of 5000 fastest-growing private companies across US and here are a few damn interesting insights:

  • The top motivator for starting up WAS NOT frustration over job/working for somebody else/unemployment etc – BUT the challenge of building a business.money
  • 88% of the respondents in 2006 said they are now millionaires (compared to 52% in 2003). 17% have a net worth exceeding $10 million.
  • 97% are planning on growing their business by hiring staff in the next 12 months.
  • 82% are self-financed (VCs suck!)
  • 24% of entrepreneurs outsource their work – and India ranks top amongst the outsourcing destination.
  • India is at the lowest end of being considered a lucrative market (outside of US).
  • 7% plan on taking their company public in the future
  • 47% plan to start another company in the future.

If you are an entrepreneur, I would love to know your reasons of starting up! Money? Thrill?

Most importantly, if you are not an entrepreneur, do you feel like – “Shit! WTF am I doing in my job?

More here. Download the report.

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