New survey, young man’s story show American entrepreneurship is alive and well

(TND) — The entrepreneurial spirit is alive and well in America.

A new Shopify-Gallup survey found that 62% of Americans want to be their own boss.

And over half are willing to take on at least a fair amount of financial risk to make it happen.

Drew Davis sure didn’t shy away from risk when he founded Crippling Hot Sauce about two years ago.

Davis, who has cerebral palsy, took $3,000 saved up from years of birthdays and Christmases and created a company as a teenager.

What started as a school project that got a “B” but was dismissed as “unrealistic” by the teacher motivated Davis to take his hot sauce to market.

He started selling in St. Louis-area stores before launching his online shop a few months later.

“And so, I just decided to do it,” Davis said. “And like 24 months later, we have sold more than 178,000 bottles and have donated thousands of dollars to cerebral palsy research as a part of our mission to show that no matter your situation, anything is possible.”

The Shopify-Gallup survey showed both current business owners and aspiring entrepreneurs are driven to be their own boss, earn more money, have schedule flexibility and pursue a passion.

They cite prior work experience in the industry, encouragement from people around them, and personal savings as keys to getting started.

And a lack of money and personal financial risks top the list of challenges.

Small businesses have certainly made an impact. The U.S. has 33 million of them, employing nearly half of the private sector workforce.

Davis said he was always interested in entrepreneurship, but hot sauce was never in his plans until the school project.

The product and branding he came up with “just fit perfectly,” he said.

Davis said he’s been underestimated because of his cerebral palsy.

“So, I knew if I wanted to make it big, I had to kind of bet on myself,” he said. “Because I know what I’m capable of, but it’s hard for a lot of people to realize that because they kind of see the wheelchair as a barrier.”

The entrepreneurial drive isn’t all about the money, he said.

It’s about making a difference and building something from start to finish.

And the only way he knows to pursue it is with both feet in.

“It’s tough man,” he said. “It’s not as glamorous as the TV shows make it out to be. You’re hands-on every day. No days off. It’s grueling, especially in the early stages.”

Davis said he’s learned that entrepreneurs need to “embrace” their failures.

“Learn all you can from those and build from those,” he said.