Starting a business is not as easy as it might seem on the surface—and launching a startup can be even more challenging! This is because a majority of entrepreneurs have little to no earlier experiences in the business world. Save for an awesome idea, there are other things to consider—like recruitment, finance, legal issues, management, and so on.

We’ve all heard that that 9 out of 10 startups fail, but what are these stats based on? The Huffington Post claims that 95% of startups fail—Does that mean that almost all new businesses fail? I hope not.

However, not all statistics are discouraging. According to the US Bureau of Labor Statistics—over 55% of all newly-created businesses cross a 5-year threshold. Small Business Administration (SB...