Baristas Coffee Company, Inc. (BCCI)

[allkinds]

From Bloomberg Business Study
One-third of new ventures close within two years, half within five years, and so on: only one in four is still around 15 years after opening day. But all that failure may offer its own reward, according to new research from a pair of economists from Stanford and the University of Michigan. They found that failed entrepreneurs are far more likely to be successful in their second go-around, provided they try again.

Of the first-time entrepreneurs whose businesses closed quickly, the overwhelming majority—71 percent—didn’t bother to try again. But the tenacious 29 percent who did were more likely to be successful the second, third, and even tenth time around. Somewhat paradoxically, their success rate increased with their number of past failures.

The researchers argue that experience, even when it’s not positive, is invaluable—that entrepreneurs learn effectively from mistakes as well as from successes. They even found that serial entrepreneurs are successful in new types of businesses. Experience owning a hair salon translates into more success at running a clothing store. (There’s one important exception: First-time-restaurant owners, no matter their business background, tend to fail; serial restaurateurs are more successful.) Kiosks to free standing to mall locations plus franchising. Spells Serial