Week 2 Reading Reflection

One of the most surprising things I read while reading this weeks assignment was that the statistic of 85% of businesses failing in the first year was actually a myth. I had heard versions of this myth throughout my life and it had always given me a sort of internalized fear of small businesses and startups. To hear that the number is not so severe, nor the risks taken so great is heartening. I was somewhat confused about the difference between the internal locus of control view and the entrepreneurial trait school of thought, I felt the text could have better differentiated between the two. If given the chance, I would ask the author for the distinction between those two views and also if startups in different industries had significantly different rates of failure. For example, does retail fail more often than manufacturing? I had no real disagreements with anything the author laid forth in this reading, however.