(TND) — The entrepreneurial spirit is alive and well in America.
A new Shopify and Gallup survey found that 62% of Americans would like to be their own boss.
And more than half are willing to take at least a significant financial risk to make it happen.
Drew Davis certainly wasn’t afraid to take risks when he founded Crippling Hot Sauce about two years ago.
Davis, who has cerebral palsy, started the company as a teenager with $3,000 he had saved over the years from birthdays and Christmases.
The project, which began as a school assignment and received a “B” but was dismissed by a teacher as “unrealistic,” prompted Davis to bring his hot sauce to market.
He began selling at stores in the St. Louis area before launching his online shop a few months later.
“So I decided to just go for it,” Davis said, “and 24 months later, we’ve sold over 178,000 bottles and donated thousands of dollars to cerebral palsy research as part of our mission to show that anything is possible, no matter what your situation.”
The Shopify-Gallup survey showed that both current business owners and aspiring entrepreneurs are excited about becoming their own boss to earn more money, have a flexible schedule, and pursue their passions.
They cited previous work experience in the industry, encouragement from those around them and personal savings as key to starting their own businesses.
And lack of funding and personal financial risk top the list of challenges.
Small businesses are certainly having an impact: There are 33 million small businesses in the United States, employing nearly half of the private sector workforce.
Davis said he’d always been interested in entrepreneurship, but hot sauce wasn’t in his plans until he took part in a school project.
The product and brand he came up with was “just a perfect fit,” he said.
Davis said he has been underestimated because of his cerebral palsy.
“So I knew if I wanted to be successful I had to bet on myself,” he says. “I know what I’m capable of, but it’s hard for people to understand that because they see a wheelchair as a disability.”
Money isn’t the only driving force behind entrepreneurship, he says.
It’s about making a difference and building something from start to finish.
And the only way he knows to pursue it is by putting both feet in it.
“It’s hard,” he said. “It’s not as glamorous as it is portrayed on TV shows. You’re on the job every day. You don’t get days off. It’s tough, especially in the early stages.”
Davis said he’s learned that entrepreneurs need to “embrace” failure.
“Learn everything you can from it and build from there,” he said.
