You’ve probably heard the statistic that states 90% of businesses fail in the first year. The statistic has entrenched itself in the business lexicon, serving as a warning to would-be entrepreneurs. But is it true? According to Rhonda Abrams, it is complete hogwash.

In a recent column, Abrams challenged the oft-stated myth and suggested that starting and sustaining a business, while perhaps not easy, is not even remotely as difficult as some would have you believe. There is more credible evidence, Abrams says, that suggests only 15% of businesses fail in the first year and that even after ten full years of operations, roughly 1/3 of businesses are still alive and kicking.

This seems to make sense to me, especially the idea that very few businesses fail in the first year. Why? Most businesses have sufficient working capital to survive any rough patches at the outset. I would think that any business that fails in its first year is more likely a victim of extreme negligence with regard to planning than of the inherent dangers of starting a business. The idea that 90% of new business owners could be so incompetent doesn’t seem likely.

So where did this all come from? Why do we believe that starting a business is such a crapshoot or that it’s something only the elite can succeed in?

My theory is that this myth was hatched in a smoke-filled boardroom by a shadowy, global organization of wealthy business owners. These owners seek to disseminate this myth to ensure that there will always be enough employees to help further expand their respective empires. The employees, so terrified by their employers’ harrowing tales of the harsh realities of the business world, would never consider going out on their own.

Or maybe not. I just love a good conspiracy theory.

In fact, it’s probably closer to the opposite. I’m not suggesting the 90% myth was started by some schlub working in his cubicle, but I think it has become so popular because we want it to be true. It helps us to justify the fear that prevents us from taking chances. I’m not being fearful, I’m being responsible, we might tell ourselves.

This is not to suggest that you should go into work on Monday, give your boss the finger and start packing up your stuff. Maybe you’re truly happy at your job and you have no interest in starting your own business. That’s perfectly fine. But even if you do want out, you still need a plan and there’s nothing wrong with taking your time to put your plan into action. Also, while you’re still working a job, it’s a great opportunity to start stockpiling office supplies for when you finally do start your company. Okay, I’m kidding, don’t do that.

The bottom line is that if you’re truly happy being an employee, that’s fine, but make sure you’re being honest with yourself. Make sure it’s not that four letter F word, fear, holding you back.

It’s looking like October will be a low month in terms of stacking money away into my adventure fund. I purchased a few products that I hope will help me in my quest to generate sources of income other than my jay-oh-bee. What did I buy? Star Trek Collector plates! No, I’m totally kidding. Here’s what I really bought:

• HTML, XHTML, and CSS Sixth Edition. Yes, it’s a noob book. I’ve done some programming in the past, but I’ve never done any web coding. This book seemed to have good reviews, so I gave it shot. I’m not all the way through it, but it seems a bit more beginner-ish than even I expected. Still, it seems pretty good.
• SEO Book. Hey, the guy has the #1 spot for “SEO Book.” That’s gotta mean something, right? I searched through some relevant forums and nearly everyone had good things to say about Aaron Wall’s book. I’m also not finished with this one yet (I tend to have several things going on at once, if you couldn’t tell), but it seems pretty good. The first part seems to contain a lot of fluff, but I’ve browsed the second half of the book and it looks like there’s some good content in there.
• Millionaire Blueprints. I also saw this mentioned on a forum and decided to check out the website. It’s a print magazine, but they also offer downloads of past issues. I purchase the current issue for $4.95 and liked what I saw, so I got a subscription. Basically they interview people who have made gobs of money in business and they talk about how they did it. This basically serves two purposes for someone like me: 1) Motivation. It’s always nice to hear from people who have actually achieved financial independence. It helps me stay focused; and 2) Education. It’s great to be motivated, but if you don’t know what you’re doing you’re basically nothing more than a really fired up idiot.

So there you have it. Will it help me make money? I hope so. If nothing else they’ll provide good reading material for the bathroom. Or, if they’re really bad, toilet paper.