近日，哈佛商学院发布创业能力和持续性研究报告，对创业中普遍面临的10个问题进行了作答。

为什么有的创业失败而有的成功? 哈佛发布创业报告,揭秘10大创业真相!

研究报告来源说明：

来自于哈佛大学商学院的研究人员Paul Gompers, Anna Kovner, Josh Lerner 和 David Scharfstein，发布的多达35页的研究报告 创业能力和持续性研究报告 Performance Persistence in Entrepreneurship。

创业能力和持续性研究报告：

Do serial entrepreneurs have a leg up on first time entrepreneurs?

1、连续创业者，相对于初次创业者，是否有优势？

答案：是。

According to the Harvard researchers, there is performance persistence in entrepreneurship.

研究报告描述,

“All else equal, a venture-capital-backed entrepreneur who succeeds in a venture (by our definition, starts a company that goes public) has a 30% chance of succeeding in his next venture. By contrast, first-time entrepreneurs have only an 18% chance of succeeding and entrepreneurs who previously failed have a 20% chance of succeeding.”

其他条件等同，成功的连续创业者拥有相对于初次创业多达30%的成功几率，初次创业者成功机率仅 18%，失败的创业者成功机率 20%。

2、成功的创业者和失败的创业者，如果再次创业获得风险投资认可和投资的话，谁更有可能性？

Who is more likely to get a VC\'s check; a founder who failed at their last venture or a founder who succeeded?

答案: 失败的创业者

Failed entrepreneurs are more likely to get funding than successful entrepreneurs from the same VC firm.

非常奇怪但是非常真实 true.

3、对于风险的掌控方面，哪类的企业家更有技巧性？

Is running a successful venture skill, luck or timing?

答案: 成功的创业家在时机的时间点把握上有优势

为什么？

研究报告原文,

“The industry-year success rate in the first venture is the best predictor of success in the subsequent venture. Entrepreneurs who succeeded by investing in a good industry and year (e.g., computers in 1983) are far more likely to succeed in their subsequent ventures than those who succeeded by doing better than other firms founded in the same industry and year (e.g., succeeding in computers in 1985).

“More importantly, entrepreneurs who invest in a good industry-year are more likely to invest in a good industry-year in their next ventures, even after controlling for differences in overall success rates across industries. Thus, it appears that market timing ability is an attribute of entrepreneurs.”

市场的时间把握能力，是一个成功的企业家的特质

4、成功是否可以“传代”或者“接续”?

Does success breed success?

答案: 是.

Entrepreneurs with previous successes can get their hands on more capital and services if suppliers think they are persistent performers.

“For example, high-quality engineers or scientists may be more interested in joining a company started by an entrepreneur who previously started a company in a good industry and year if they believe (justifiably given the evidence) that this track record increases the likelihood of success,”

上面是报告原文，因为优秀的工程师更愿意加盟曾经创业成功的创业家。

5、获得过顶级风险投资公司投资的创业公司是否更容易成功？

Are companies that are funded by top-tier VC firms more likely to succeed?

答案: 是的, 除了一点。下面继续说此问题。

The reason these companies are more successful either because top VCs are better at identifying potential success, or it’s because they’re able to add more value to companies they fund.

The Harvard paper assumes both

6、如果创业公司的创始人已经功成名就然后创业，风险投资公司对创业的成功有多大帮助？

If a startup\'s founder has been successful before, how important is the VC?

答案: 风险投资公司基本没啥用，有没有无所谓。

Basically, since successful entrepreneurs can easily obtain services and they have a better chance at success, then they really don’t need guidance from top VCs provide.

Harvard explains,

“If successful entrepreneurs are better, then top-tier venture capital firms have no advantage identifying them (because success is public information) and they add little value. And, if successful entrepreneurs have an easier time attracting high-quality resources and customers, then top-tier venture capital firms add little value.因为成功信息已经公开化，而风投公司对于他们来说并不会带来什么额外资源；而成功的创业家自己就会带来足够的资源和人脉以及客户等。

7、大多数的创业家的创意来源于哪里？

Where do most entrepreneurs get their ideas from?

答案: 前员工或前雇员.

看到答案后，第一感觉是不是“偷盗”？看配图，O(∩_∩)O哈哈~。

Make sure employees sign those non-competes!

The Harvard paper cites a 2000 study by Bhide that finds “a substantial fraction of the Inc. 500 got their idea for their new company while working at their prior employer.”

8、风投公司会再次给予投资给之前投资过的人相同数额的投资?

Will VCs give the same entrepreneur funding on their next venture?

Answer: 通常不会。同一个风投，如果之前投资过创业公司，之后不会再投资.

You’d think successful entrepreneurs would have no problem getting funding from venture capital firms that previously backed them…but you’d be wrong.

According to a 2007 study by Bengtsson, “it’s rare for serial entrepreneurs to receive funding from the same venture capital firm across multiple ventures.”

9、连续创业者和初次创业者，哪个更容易获得投资?

Who closes VC funding faster, a serial entrepreneurs or a new founder?

答案: 连续创业者，更容易和更快获得投资。

If you’re established, it’s easier to convince VCs you’re worth betting on. “While 45% of first-time ventures receive initial venture capital funding at an early stage, close to 60% of entrepreneurs receive initial venture capital funding at an early stage when it is their second or later venture.”

It takes an average of 21 months for established entrepreneurs to secure VC funding compared to 37 months for first-timers.21个月（连续创业者），和 37个月（初次创业者）的区别。

10、初次创业和多次创业，哪个获得更高的创业估值?

为什么有的创业失败而有的成功? 哈佛发布创业报告,揭秘10大创业真相!

答案: 新创业者.

They were found to have higher initial pre-money valuations than serial entrepreneurs: $12.3 million compared to $16.0 million for first-time founders.

研究报告的数据是 123万美元和 160万美元的区别，当然后者是初次创业者的平均数据。

ok，

上文为什么有的创业失败而有的成功?